Oceaneering International (NYSE:OII) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Oceaneering International (NYSE:OII) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. TD Cowen increased their price target on shares of Oceaneering International from $28.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday. Barclays upped their price objective on Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Finally, Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.33.

Oceaneering International Price Performance

Shares of OII traded down $0.26 during mid-day trading on Thursday, reaching $34.18. 935,002 shares of the company’s stock were exchanged, compared to its average volume of 1,437,922. The company has a quick ratio of 1.72, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. Oceaneering International has a 52-week low of $15.46 and a 52-week high of $39.00. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 9.77 and a beta of 1.18. The company has a 50-day simple moving average of $30.61 and a two-hundred day simple moving average of $26.43.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The firm had revenue of $668.57 million for the quarter, compared to analysts’ expectations of $678.16 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Oceaneering International’s quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts predict that Oceaneering International will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, SVP Holly Kriendler sold 5,798 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $37.31, for a total value of $216,323.38. Following the completion of the transaction, the senior vice president owned 24,702 shares in the company, valued at $921,631.62. This represents a 19.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher J. Dyer sold 6,000 shares of Oceaneering International stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $38.08, for a total transaction of $228,480.00. Following the sale, the senior vice president owned 15,902 shares in the company, valued at $605,548.16. This represents a 27.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 140,844 shares of company stock worth $4,972,594. Insiders own 2.10% of the company’s stock.

Institutional Trading of Oceaneering International

A number of hedge funds and other institutional investors have recently made changes to their positions in OII. Salomon & Ludwin LLC acquired a new position in shares of Oceaneering International in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oceaneering International in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC lifted its position in Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 1,111 shares during the last quarter. Quarry LP acquired a new position in shares of Oceaneering International during the third quarter worth approximately $30,000. Finally, SBI Securities Co. Ltd. increased its position in Oceaneering International by 255.1% in 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 acquiring an additional 1,000 shares during the period. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

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.