Citigroup Issues Positive Forecast for Oceaneering International (NYSE:OII) Stock Price

Oceaneering International (NYSE:OII) had its price target upped by Citigroup from $25.00 to $35.00 in a research report released on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the oil and gas company’s stock.

Several other analysts also recently weighed in on OII. Weiss Ratings upgraded Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Barclays boosted their price target on Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. TD Cowen increased their price target on Oceaneering International from $28.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Zacks Research lowered Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.67.

Oceaneering International Price Performance

Shares of OII stock opened at $36.25 on Tuesday. The company has a market capitalization of $3.60 billion, a PE ratio of 10.36 and a beta of 1.18. The firm has a fifty day simple moving average of $31.06 and a 200-day simple moving average of $26.65. The company has a current ratio of 1.99, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. Oceaneering International has a twelve month low of $15.46 and a twelve month high of $39.00.

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

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.35, for a total transaction of $768,234.25. Following the sale, the senior vice president owned 52,344 shares in the company, valued at $1,379,264.40. This represents a 35.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen H. Beachy sold 9,800 shares of Oceaneering International stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $366,618.00. Following the completion of the transaction, the director owned 22,816 shares of the company’s stock, valued at approximately $853,546.56. The trade was a 30.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 140,844 shares of company stock valued at $4,972,594. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Oceaneering International

Several institutional investors and hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC acquired a new position in shares of Oceaneering International in the 3rd quarter valued at about $967,000. Essex Investment Management Co. LLC raised its stake in Oceaneering International by 58.7% during the third quarter. Essex Investment Management Co. LLC now owns 159,261 shares of the oil and gas company’s stock worth $3,946,000 after acquiring an additional 58,925 shares during the period. CenterBook Partners LP acquired a new stake in Oceaneering International during the third quarter worth about $409,000. SG Americas Securities LLC lifted its holdings in Oceaneering International by 1,377.0% in the third quarter. SG Americas Securities LLC now owns 156,547 shares of the oil and gas company’s stock worth $3,879,000 after acquiring an additional 145,948 shares during the last quarter. Finally, Greenhouse Funds LLLP lifted its holdings in Oceaneering International by 9.9% in the second quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock worth $51,630,000 after acquiring an additional 223,724 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.