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

Shares of Oceaneering International, Inc. (NYSE:OII) have received an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $33.6667.

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

Oceaneering International Trading Up 3.7%

NYSE OII opened at $36.25 on Thursday. Oceaneering International has a 12 month low of $15.46 and a 12 month high of $39.00. The company has a 50-day moving average of $32.69 and a 200-day moving average of $27.32. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72. The company has a market cap of $3.60 billion, a P/E ratio of 10.36 and a beta of 1.18.

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

Insider Transactions at Oceaneering International

In related news, COO Benjamin Laura sold 33,176 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $37.51, for a total value of $1,244,431.76. Following the transaction, the chief operating officer owned 45,911 shares in the company, valued at approximately $1,722,121.61. This trade represents a 41.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Earl Childress sold 22,518 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction 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. This represents a 38.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 140,844 shares of company stock valued at $4,972,594 in the last three months. 2.10% of the stock is owned by company insiders.

Institutional Trading of Oceaneering International

Several large investors have recently added to or reduced their stakes in OII. Salomon & Ludwin LLC purchased a new stake in shares of Oceaneering International in the third quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oceaneering International in the third quarter valued at about $28,000. Quarry LP purchased a new stake in shares of Oceaneering International during the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. raised its holdings in shares of Oceaneering International by 255.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 1,000 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 1,111 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.