Oceaneering International (NYSE:OII) Stock Rating Upgraded by Wall Street Zen

Oceaneering International (NYSE:OII) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently commented on the stock. Barclays boosted 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 report on Monday, July 27th. Citigroup upped their target price on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Weiss Ratings downgraded Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.00.

Oceaneering International Stock Performance

Shares of OII stock opened at $43.78 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. The company has a market capitalization of $4.36 billion, a P/E ratio of 12.58 and a beta of 1.25. The company’s 50 day moving average price is $48.29 and its two-hundred day moving average price is $42.80. Oceaneering International has a 52 week low of $22.13 and a 52 week high of $54.25.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. The firm had revenue of $768.18 million for 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 business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, analysts expect that Oceaneering International will post 2.10 earnings per share for the current fiscal year.

Insider Transactions at Oceaneering International

In other Oceaneering International news, Director M. McEvoy sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.92, for a total transaction of $143,760.00. Following the completion of the transaction, the director owned 134,133 shares of the company’s stock, valued at $6,427,653.36. This represents a 2.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Christopher Dyer sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the transaction, the senior vice president directly owned 14,702 shares of the company’s stock, valued at approximately $700,550.30. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 32,901 shares of company stock worth $1,542,864. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Oceaneering International

A number of institutional investors have recently made changes to their positions in OII. BlackRock Inc. acquired a new stake in Oceaneering International in the 2nd quarter valued at $664,659,000. Morgan Stanley Institutional Investment Advisors LLC bought a new stake in Oceaneering International during the 2nd quarter worth about $124,235,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Oceaneering International during the 2nd quarter worth about $92,100,000. Reinhart Partners LLC. acquired a new position in shares of Oceaneering International during the 2nd quarter worth about $66,795,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Oceaneering International during the 2nd quarter worth about $45,658,000. Institutional investors own 93.93% of the company’s stock.

About Oceaneering International

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.