Oceaneering International (NYSE:OII) Given New $34.00 Price Target at TD Cowen

Oceaneering International (NYSE:OII) had its price objective boosted by TD Cowen from $28.00 to $34.00 in a report issued on Tuesday, MarketBeat.com reports. TD Cowen currently has a hold rating on the oil and gas company’s stock.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday. Barclays increased their price objective on Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings raised Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

Oceaneering International Price Performance

Oceaneering International stock opened at $35.16 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72. Oceaneering International has a one year low of $15.46 and a one year high of $39.00. The firm has a market cap of $3.49 billion, a PE ratio of 10.05 and a beta of 1.18. The stock’s fifty day moving average price is $29.99 and its two-hundred day moving average price is $26.23.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $668.57 million during the quarter, compared to analysts’ expectations of $678.16 million. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. Oceaneering International’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. As a group, research analysts expect that Oceaneering International will post 1.78 EPS for the current fiscal year.

Insider Transactions at Oceaneering International

In other news, COO Benjamin Laura sold 33,176 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $37.51, for a total value of $1,244,431.76. Following the completion of the transaction, the chief operating officer directly owned 45,911 shares of the company’s stock, valued at $1,722,121.61. This represents a 41.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Earl Childress sold 22,518 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total value of $842,398.38. Following the completion of the transaction, the senior vice president owned 35,577 shares of the company’s stock, valued at $1,330,935.57. This trade represents a 38.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 140,844 shares of company stock worth $4,972,594. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Oceaneering International

Large investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new position in shares of Oceaneering International in the third quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Oceaneering International in the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 1,111 shares during the last quarter. Quarry LP purchased a new position in Oceaneering International in the third quarter worth $30,000. Finally, SBI Securities Co. Ltd. increased its stake in Oceaneering International by 255.1% in the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

About Oceaneering International

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.