Oceaneering International (NYSE:OII) Cut to Hold at Zacks Research

Zacks Research cut shares of Oceaneering International (NYSE:OII) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks reports.

Several other brokerages have also recently issued reports on OII. Citigroup decreased their price objective on Oceaneering International from $52.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. Weiss Ratings lowered shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Barclays cut their target price on shares of Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, October 26th. Finally, Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Oceaneering International presently has a consensus rating of “Hold” and an average price target of $41.00.

Oceaneering International Price Performance

OII traded up $0.17 during trading on Wednesday, hitting $34.20. 1,843,984 shares of the company traded hands, compared to its average volume of 1,033,276. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.40. The company has a market cap of $3.40 billion, a PE ratio of 10.40 and a beta of 1.30. The stock’s 50-day simple moving average is $44.72 and its two-hundred day simple moving average is $40.46. Oceaneering International has a 1 year low of $22.13 and a 1 year high of $54.25.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, October 21st. The oil and gas company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The company had revenue of $784.55 million for the quarter, compared to the consensus estimate of $775.93 million. Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. As a group, sell-side analysts anticipate 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, CEO Roderick Larson sold 6,000 shares of Oceaneering International stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $44.16, for a total transaction of $264,960.00. Following the completion of the transaction, the chief executive officer directly owned 385,279 shares of the company’s stock, valued at $17,013,920.64. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oceaneering International

Several institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in Oceaneering International by 53.2% during the 3rd quarter. Parallel Advisors LLC now owns 835 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 290 shares during the last quarter. Allworth Financial LP lifted its stake in Oceaneering International by 63.2% in the second quarter. Allworth Financial LP now owns 1,046 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 405 shares during the last quarter. Root Financial Partners LLC bought a new stake in Oceaneering International in the third quarter worth about $26,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Oceaneering International during the third quarter valued at approximately $27,000. Finally, Choreo LLC boosted its position in shares of Oceaneering International by 5.8% during the third quarter. Choreo LLC now owns 11,509 shares of the oil and gas company’s stock valued at $502,000 after buying an additional 630 shares during the period. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.