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

Oceaneering International (NYSE:OII) had its target price lifted by analysts at TD Cowen from $26.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s target price would indicate a potential downside of 0.77% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Barclays upgraded Oceaneering International from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $22.00 to $26.00 in a research note on Wednesday, December 18th. Benchmark reaffirmed a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.75.

Oceaneering International Trading Down 2.6 %

NYSE:OII traded down $0.72 on Wednesday, reaching $27.21. 212,922 shares of the company’s stock were exchanged, compared to its average volume of 550,463. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 20.61 and a beta of 2.41. Oceaneering International has a 52-week low of $18.95 and a 52-week high of $30.98. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $27.09 and a 200-day moving average of $26.04.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.08). Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The business had revenue of $679.81 million for the quarter, compared to analysts’ expectations of $693.69 million. During the same period in the previous year, the company earned $0.38 earnings per share. Oceaneering International’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts expect that Oceaneering International will post 1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OII. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Oceaneering International in the second quarter valued at approximately $38,000. Farther Finance Advisors LLC increased its position in Oceaneering International by 3,594.3% during the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,905 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Oceaneering International in the third quarter worth $57,000. GAMMA Investing LLC lifted its position in shares of Oceaneering International by 108.3% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 1,412 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Oceaneering International by 165.5% during the third quarter. CWM LLC now owns 6,935 shares of the oil and gas company’s stock valued at $172,000 after acquiring an additional 4,323 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.