Oceaneering International (NYSE:OII) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a buy rating in a research note published on Saturday morning.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a report on Wednesday, October 8th. Barclays upped their price target on Oceaneering International from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Finally, Citigroup upped their price target on Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.67.

Oceaneering International Price Performance

OII stock opened at $23.19 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $2.31 billion, a PE ratio of 10.13 and a beta of 1.50. Oceaneering International has a 12-month low of $15.46 and a 12-month high of $30.98. The business’s fifty day moving average price is $24.03 and its 200 day moving average price is $21.56.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.13. The firm had revenue of $742.90 million for the quarter, compared to the consensus estimate of $709.48 million. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. On average, sell-side analysts anticipate that Oceaneering International will post 1.78 EPS for the current year.

Insider Activity at Oceaneering International

In other news, CFO Alan R. Curtis sold 14,840 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total value of $361,502.40. Following the transaction, the chief financial officer owned 155,259 shares in the company, valued at approximately $3,782,109.24. This represents a 8.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC purchased a new position in shares of Oceaneering International in the 3rd quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 1,111 shares during the period. IFP Advisors Inc boosted its position in shares of Oceaneering International by 11,380.8% in the 2nd quarter. IFP Advisors Inc now owns 2,985 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,959 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Oceaneering International by 33.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,995 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 747 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Oceaneering International by 29.7% in the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 711 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.