Oceaneering International, Inc. (NYSE:OII – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $45.00.
Several analysts recently issued reports on OII shares. Barclays upped their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Citigroup upped their price target on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Finally, Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday.
Read Our Latest Analysis on Oceaneering International
Oceaneering International Trading Up 0.6%
Oceaneering International (NYSE:OII – Get Free Report) last released its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.17. The business had revenue of $768.18 million during the quarter, compared to analyst estimates of $735.69 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. Research analysts expect that Oceaneering International will post 2.10 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, SVP Christopher Dyer sold 1,200 shares of Oceaneering International stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total transaction of $57,180.00. Following the transaction, the senior vice president owned 14,702 shares in the company, valued at $700,550.30. The trade was a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Roderick Larson sold 6,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $44.16, for a total transaction of $264,960.00. Following the completion of the sale, the chief executive officer directly owned 391,279 shares of the company’s stock, valued at $17,278,880.64. This represents a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 32,901 shares of company stock worth $1,542,864. 1.30% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Oceaneering International
Several institutional investors and hedge funds have recently modified their holdings of OII. GAMMA Investing LLC increased its stake in Oceaneering International by 18.7% during the third quarter. GAMMA Investing LLC now owns 6,081 shares of the oil and gas company’s stock worth $265,000 after purchasing an additional 957 shares during the period. Veracity Capital LLC purchased a new position in shares of Oceaneering International in the third quarter valued at approximately $578,000. QRG Capital Management Inc. boosted its stake in shares of Oceaneering International by 12.9% in the second quarter. QRG Capital Management Inc. now owns 24,006 shares of the oil and gas company’s stock valued at $973,000 after purchasing an additional 2,743 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Oceaneering International in the second quarter valued at approximately $224,000. Finally, Tidal Investments LLC increased its stake in Oceaneering International by 8.4% during the 2nd quarter. Tidal Investments LLC now owns 30,209 shares of the oil and gas company’s stock worth $1,224,000 after buying an additional 2,341 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 is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.
Oceaneering’s subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.
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