Oceaneering International (OII) Cut to “Sell” at ValuEngine

ValuEngine cut shares of Oceaneering International (NYSE:OII) from a hold rating to a sell rating in a research note released on Friday morning.

Several other equities analysts have also issued reports on OII. Barclays assumed coverage on Oceaneering International in a research note on Friday, October 6th. They set an equal weight rating and a $28.00 price target on the stock. Cowen set a $28.00 price target on Oceaneering International and gave the company a hold rating in a research note on Friday, October 6th. Piper Jaffray Companies lowered Oceaneering International from an overweight rating to a neutral rating in a research note on Friday, October 27th. Citigroup lowered their price target on Oceaneering International from $25.00 to $20.00 and set a neutral rating on the stock in a research note on Monday, October 30th. Finally, Societe Generale lowered Oceaneering International from a buy rating to a hold rating in a research note on Monday, October 30th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $23.46.

Oceaneering International (NYSE:OII) opened at $19.72 on Friday. Oceaneering International has a 12 month low of $17.11 and a 12 month high of $29.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.14 and a current ratio of 2.67. The stock has a market capitalization of $2,005.88, a PE ratio of 680.33 and a beta of 1.44.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OII. Janus Henderson Group PLC acquired a new stake in Oceaneering International during the second quarter valued at approximately $22,929,000. Majedie Asset Management Ltd boosted its holdings in Oceaneering International by 69.7% during the fourth quarter. Majedie Asset Management Ltd now owns 1,799,717 shares of the oil and gas company’s stock valued at $38,046,000 after purchasing an additional 738,968 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Oceaneering International by 17.4% during the third quarter. Dimensional Fund Advisors LP now owns 4,936,686 shares of the oil and gas company’s stock valued at $129,688,000 after purchasing an additional 731,348 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Oceaneering International by 169.8% in the 2nd quarter. Royal Bank of Canada now owns 289,277 shares of the oil and gas company’s stock worth $6,606,000 after acquiring an additional 703,599 shares in the last quarter. Finally, Vident Investment Advisory LLC boosted its holdings in shares of Oceaneering International by 60.0% in the 3rd quarter. Vident Investment Advisory LLC now owns 927,136 shares of the oil and gas company’s stock worth $24,356,000 after acquiring an additional 347,505 shares in the last quarter. 99.69% of the stock is currently owned by institutional investors.

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Oceaneering International Company Profile

Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Oceaneering International (NYSE:OII)

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