Oceaneering International (NYSE:OII) Given New $27.00 Price Target at TD Cowen

Oceaneering International (NYSE:OII) had its price target lifted by equities researchers at TD Cowen from $25.00 to $27.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price target would suggest a potential upside of 16.01% from the stock’s current price.

A number of other research firms also recently weighed in on OII. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Citigroup lifted their price target on shares of Oceaneering International from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a research report on Wednesday, October 8th. Finally, Barclays boosted their price objective on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Oceaneering International has an average rating of “Hold” and an average price target of $25.00.

Oceaneering International Stock Up 1.1%

NYSE OII opened at $23.27 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. Oceaneering International has a 1-year low of $15.46 and a 1-year high of $30.98. The company has a 50 day moving average of $24.04 and a 200-day moving average of $21.77. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 10.16 and a beta of 1.50.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.13. Oceaneering International had a net margin of 8.21% and a return on equity of 22.94%. The company had revenue of $742.90 million during the quarter, compared to the consensus estimate of $709.48 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Oceaneering International will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total transaction of $361,502.40. Following the sale, the chief financial officer owned 155,259 shares of the company’s stock, valued at approximately $3,782,109.24. The trade was a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Trading of Oceaneering International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new stake in shares of Oceaneering International in the third quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new stake in Oceaneering International during the third quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its position in Oceaneering International by 335.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 1,111 shares during the last quarter. IFP Advisors Inc boosted its position in Oceaneering International by 11,380.8% during the second quarter. IFP Advisors Inc now owns 2,985 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 2,959 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Oceaneering International by 33.2% during the second quarter. Smartleaf Asset Management LLC now owns 2,995 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 747 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.