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 report released on Thursday.

Separately, Barclays dropped their price target on shares of Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th.

Oceaneering International Stock Performance

Shares of Oceaneering International stock traded down $0.25 on Thursday, reaching $22.28. 698,302 shares of the company traded hands, compared to its average volume of 811,500. Oceaneering International has a 52 week low of $14.99 and a 52 week high of $27.46. The company has a 50 day moving average of $22.27 and a 200 day moving average of $21.82. The firm has a market capitalization of $2.26 billion, a PE ratio of 23.45 and a beta of 2.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.78 and a quick ratio of 1.50.

Oceaneering International (NYSE:OII) last released its earnings results on Thursday, February 22nd. The oil and gas company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Oceaneering International had a net margin of 4.02% and a return on equity of 14.00%. The company had revenue of $654.60 million for the quarter, compared to the consensus estimate of $624.81 million. During the same period in the prior year, the company earned $0.06 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. Equities analysts forecast that Oceaneering International will post 1.54 earnings per share for the current year.

Institutional Trading of Oceaneering International

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Oceaneering International by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 12,461,454 shares of the oil and gas company’s stock worth $265,180,000 after purchasing an additional 246,067 shares in the last quarter. State Street Corp lifted its stake in Oceaneering International by 3.5% in the 3rd quarter. State Street Corp now owns 4,758,759 shares of the oil and gas company’s stock worth $37,880,000 after purchasing an additional 161,414 shares in the last quarter. FMR LLC lifted its stake in Oceaneering International by 18.9% in the 3rd quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock worth $114,134,000 after purchasing an additional 705,534 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Oceaneering International by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,600,960 shares of the oil and gas company’s stock worth $54,592,000 after purchasing an additional 189,991 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Oceaneering International by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,936,346 shares of the oil and gas company’s stock worth $36,210,000 after purchasing an additional 74,167 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.