Oceaneering International (NYSE:OII) Price Target Raised to $32.00 at Barclays

Oceaneering International (NYSE:OII) had its price target lifted by Barclays from $23.00 to $32.00 in a report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the stock. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Oceaneering International in a research report on Monday, December 29th. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, TD Cowen increased their target price on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.00.

Oceaneering International Stock Performance

Shares of Oceaneering International stock opened at $37.16 on Monday. The stock’s fifty day simple moving average is $28.46 and its 200 day simple moving average is $25.60. The company has a current ratio of 1.99, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $3.71 billion, a PE ratio of 10.62 and a beta of 1.25. Oceaneering International has a 12 month low of $15.46 and a 12 month high of $37.80.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $668.57 million during the quarter, compared to analysts’ expectations of $678.16 million. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share. On average, research analysts predict that Oceaneering International will post 1.78 EPS for the current year.

Insider Transactions at Oceaneering International

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the sale, the senior vice president directly owned 52,344 shares of the company’s stock, valued at $1,379,264.40. The trade was a 35.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of Oceaneering International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Oceaneering International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock valued at $1,312,000 after purchasing an additional 2,633 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Oceaneering International by 1.9% during the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock worth $2,634,000 after purchasing an additional 2,310 shares in the last quarter. Strs Ohio acquired a new stake in shares of Oceaneering International in the 1st quarter valued at approximately $168,000. CWM LLC grew its stake in shares of Oceaneering International by 276.4% in the second quarter. CWM LLC now owns 13,680 shares of the oil and gas company’s stock valued at $283,000 after buying an additional 10,046 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in Oceaneering International by 54.3% during the second quarter. Bleakley Financial Group LLC now owns 15,947 shares of the oil and gas company’s stock worth $330,000 after buying an additional 5,614 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.