Oceaneering International, Inc. (NYSE:OII) Receives $33.67 Consensus Target Price from Brokerages

Oceaneering International, Inc. (NYSE:OII) has earned an average rating of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $33.6667.

Several analysts recently issued reports on OII shares. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Barclays boosted their price target on Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Zacks Research downgraded Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Citigroup upped their target price on Oceaneering International from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings upgraded Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd.

Insider Activity

In other news, SVP Christopher J. Dyer sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $38.08, for a total transaction of $228,480.00. Following the completion of the sale, the senior vice president directly owned 15,902 shares in the company, valued at approximately $605,548.16. This represents a 27.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Earl Childress sold 22,518 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total value of $842,398.38. Following the sale, the senior vice president owned 35,577 shares of the company’s stock, valued at approximately $1,330,935.57. The trade was a 38.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 111,689 shares of company stock worth $4,204,360. 1.30% of the stock is owned by insiders.

Institutional Trading of Oceaneering International

Several institutional investors and hedge funds have recently modified their holdings of OII. Lido Advisors LLC increased its holdings in Oceaneering International by 2.8% in the 4th quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company’s stock worth $299,000 after purchasing an additional 335 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Oceaneering International by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 54,458 shares of the oil and gas company’s stock worth $1,307,000 after purchasing an additional 380 shares in the last quarter. CSM Advisors LLC increased its holdings in Oceaneering International by 3.1% in the 3rd quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock worth $359,000 after purchasing an additional 428 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Oceaneering International by 15.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,464 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 469 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Oceaneering International by 2.9% in the 4th quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 545 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Stock Up 1.9%

OII stock opened at $37.42 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.73 billion, a PE ratio of 10.69 and a beta of 1.18. Oceaneering International has a 1-year low of $16.83 and a 1-year high of $39.06. The business’s 50 day simple moving average is $35.38 and its 200 day simple moving average is $28.81.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $668.57 million for the quarter, compared to analyst estimates of $678.16 million. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS. As a group, research analysts anticipate that Oceaneering International will post 1.78 EPS for the current year.

About Oceaneering International

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.