StockNews.com Upgrades Oceaneering International (NYSE:OII) to Buy

Oceaneering International (NYSE:OII) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other brokerages also recently commented on OII. Benchmark restated a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research note on Friday, October 25th. Pickering Energy Partners lowered shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Citigroup downgraded shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research report on Friday, January 10th. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $22.00 to $26.00 in a research report on Wednesday, December 18th. Finally, TD Cowen lifted their price target on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Oceaneering International presently has an average rating of “Hold” and a consensus price target of $29.25.

Oceaneering International Stock Performance

Shares of Oceaneering International stock traded down $1.64 during trading hours on Friday, reaching $22.52. The company’s stock had a trading volume of 1,239,197 shares, compared to its average volume of 723,950. Oceaneering International has a one year low of $19.68 and a one year high of $30.98. The company’s 50 day simple moving average is $25.68 and its 200 day simple moving average is $26.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. The stock has a market cap of $2.28 billion, a P/E ratio of 15.64 and a beta of 2.38.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $713.45 million during the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a return on equity of 17.66% and a net margin of 5.54%. As a group, analysts expect that Oceaneering International will post 1.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Congress Asset Management Co. acquired a new position in shares of Oceaneering International during the 3rd quarter valued at $38,819,000. Brown Advisory Inc. boosted its stake in Oceaneering International by 22.5% during the fourth quarter. Brown Advisory Inc. now owns 5,129,668 shares of the oil and gas company’s stock valued at $133,782,000 after buying an additional 941,849 shares in the last quarter. FIL Ltd acquired a new position in Oceaneering International during the fourth quarter worth about $18,864,000. American Century Companies Inc. raised its position in Oceaneering International by 14.3% in the fourth quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company’s stock worth $74,112,000 after acquiring an additional 355,290 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Oceaneering International in the 4th quarter valued at about $8,490,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Company Profile

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.