Oceaneering International (NYSE:OII) Price Target Lowered to $22.00 at Barclays

Oceaneering International (NYSE:OII) had its target price reduced by Barclays from $24.00 to $22.00 in a research note published on Thursday morning, Benzinga reports. They currently have an underweight rating on the oil and gas company’s stock.

Other analysts have also issued research reports about the company. Benchmark reiterated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th. Citigroup raised their price target on shares of Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd.

Oceaneering International Price Performance

OII traded up $0.40 during trading on Thursday, reaching $24.80. 138,330 shares of the company traded hands, compared to its average volume of 819,057. Oceaneering International has a 12-month low of $18.67 and a 12-month high of $30.45. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.42 and a current ratio of 1.76. The firm has a fifty day simple moving average of $25.15 and a 200 day simple moving average of $24.53. The company has a market cap of $2.51 billion, a P/E ratio of 18.47 and a beta of 2.35.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). The company had revenue of $679.81 million during the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. During the same quarter in the prior year, the business posted $0.38 EPS. The company’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts forecast that Oceaneering International will post 1.38 EPS for the current year.

Insiders Place Their Bets

In related news, Director Karen H. Beachy sold 3,300 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total value of $75,702.00. Following the transaction, the director now owns 28,229 shares in the company, valued at $647,573.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Karen H. Beachy sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the transaction, the director now directly owns 28,229 shares of the company’s stock, valued at $647,573.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Earl Childress sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total value of $257,000.00. Following the transaction, the senior vice president now directly owns 57,351 shares of the company’s stock, valued at $1,473,920.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,975 shares of company stock valued at $585,413 over the last quarter. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Oceaneering International

Several hedge funds have recently modified their holdings of the stock. Isthmus Partners LLC increased its holdings in Oceaneering International by 0.9% in the second quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 968 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Oceaneering International in the second quarter valued at approximately $38,000. Farther Finance Advisors LLC raised its position in shares of Oceaneering International by 3,594.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,905 shares during the period. EntryPoint Capital LLC increased its position in Oceaneering International by 105.2% in the first quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock worth $51,000 after buying an additional 1,124 shares during the period. Finally, CWM LLC increased its holdings in shares of Oceaneering International by 351.9% in the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,034 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.