Oceaneering International (NYSE:OII) Cut to Hold at StockNews.com

StockNews.com cut shares of Oceaneering International (NYSE:OII) from a buy rating to a hold rating in a research note issued to investors on Saturday.

OII has been the topic of several other research reports. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $22.00 to $26.00 in a research note on Wednesday, December 18th. Pickering Energy Partners downgraded Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. Citigroup lowered Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research report on Friday, January 10th. Finally, TD Cowen increased their target price on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.25.

Oceaneering International Price Performance

Shares of NYSE OII opened at $20.72 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 14.39 and a beta of 2.38. Oceaneering International has a twelve month low of $19.88 and a twelve month high of $30.98. The business has a 50 day simple moving average of $25.34 and a 200-day simple moving average of $25.87.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $713.45 million for the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. As a group, equities research analysts expect that Oceaneering International will post 1.78 earnings per share for the current year.

Hedge Funds Weigh In On Oceaneering International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OII. Creative Planning raised its stake in Oceaneering International by 43.1% during the 3rd quarter. Creative Planning now owns 12,522 shares of the oil and gas company’s stock valued at $311,000 after acquiring an additional 3,771 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Oceaneering International by 3,594.3% during the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,905 shares in the last quarter. F M Investments LLC raised its stake in shares of Oceaneering International by 34.5% during the third quarter. F M Investments LLC now owns 299,808 shares of the oil and gas company’s stock valued at $7,457,000 after purchasing an additional 76,917 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Oceaneering International by 1.4% in the third quarter. Principal Financial Group Inc. now owns 510,880 shares of the oil and gas company’s stock worth $12,706,000 after purchasing an additional 7,037 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in Oceaneering International in the 3rd quarter valued at about $6,106,000. 93.93% of the stock is owned by institutional investors.

Oceaneering International Company Profile

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.