Oceaneering International (NYSE:OII) Stock Passes Above 200-Day Moving Average of $21.81

Shares of Oceaneering International, Inc. (NYSE:OII) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $21.81 and traded as high as $23.28. Oceaneering International shares last traded at $22.97, with a volume of 593,962 shares.

Analysts Set New Price Targets

OII has been the subject of a number of analyst reports. StockNews.com lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, April 6th. Barclays reduced their price objective on shares of Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th.

Oceaneering International Stock Down 1.1 %

The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 23.45 and a beta of 2.49. The stock’s 50 day moving average is $22.27 and its 200 day moving average is $21.82. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.75.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Oceaneering International had a return on equity of 14.00% and a net margin of 4.02%. The firm had revenue of $654.60 million during the quarter, compared to the consensus estimate of $624.81 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. Analysts forecast that Oceaneering International, Inc. will post 1.54 EPS for the current year.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds have recently made changes to their positions in the business. SteelPeak Wealth LLC bought a new stake in Oceaneering International during the first quarter worth approximately $516,000. Hennessy Advisors Inc. boosted its stake in shares of Oceaneering International by 18.8% during the 1st quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company’s stock worth $27,296,000 after acquiring an additional 184,300 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Oceaneering International by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 12,461,454 shares of the oil and gas company’s stock worth $265,180,000 after acquiring an additional 246,067 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Oceaneering International by 19.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 461,128 shares of the oil and gas company’s stock worth $9,813,000 after purchasing an additional 76,252 shares during the period. Finally, Pineridge Advisors LLC purchased a new stake in shares of Oceaneering International during the fourth quarter valued at $44,000. Institutional investors and hedge funds 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.