Oceaneering International (NYSE:OII) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Oceaneering International (NYSE:OII) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other brokerages have also issued reports on OII. Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a research report on Monday, December 29th. TD Cowen raised their price objective on shares of Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Barclays upped their target price on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Finally, Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Oceaneering International presently has an average rating of “Hold” and a consensus price target of $25.00.

Oceaneering International Stock Performance

Shares of OII stock opened at $32.19 on Friday. The stock’s 50-day moving average is $26.81 and its two-hundred day moving average is $24.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.68 and a current ratio of 1.97. Oceaneering International has a 1 year low of $15.46 and a 1 year high of $32.37. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 14.06 and a beta of 1.26.

Insider Buying and Selling at Oceaneering International

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the transaction, the senior vice president directly owned 52,344 shares in the company, valued at $1,379,264.40. The trade was a 35.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oceaneering International

Several institutional investors and hedge funds have recently added to or reduced their stakes in OII. Legato Capital Management LLC boosted its stake in shares of Oceaneering International by 48.7% in the fourth quarter. Legato Capital Management LLC now owns 68,361 shares of the oil and gas company’s stock valued at $1,643,000 after buying an additional 22,374 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Oceaneering International by 7.9% during the 4th quarter. ProShare Advisors LLC now owns 19,222 shares of the oil and gas company’s stock worth $462,000 after purchasing an additional 1,402 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Oceaneering International by 11.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 341,840 shares of the oil and gas company’s stock worth $8,214,000 after purchasing an additional 35,400 shares during the period. Leuthold Group LLC purchased a new position in shares of Oceaneering International in the 4th quarter valued at about $3,548,000. Finally, Isthmus Partners LLC lifted its stake in shares of Oceaneering International by 0.7% in the fourth quarter. Isthmus Partners LLC now owns 97,629 shares of the oil and gas company’s stock valued at $2,346,000 after purchasing an additional 706 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.