Oceaneering International (NYSE:OII) Upgraded by Barclays to “Equal Weight” Rating

Oceaneering International (NYSE:OII) was upgraded by research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm presently has a $26.00 price target on the oil and gas company’s stock, up from their prior price target of $22.00. Barclays‘s price objective indicates a potential upside of 2.87% from the stock’s previous close.

Separately, Benchmark reaffirmed a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research report on Friday, October 25th.

Oceaneering International Stock Down 0.4 %

OII opened at $25.28 on Wednesday. Oceaneering International has a twelve month low of $18.95 and a twelve month high of $30.98. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average price of $26.83 and a 200-day moving average price of $25.59. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 19.15 and a beta of 2.39.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.08). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm had revenue of $679.81 million for the quarter, compared to the consensus estimate of $693.69 million. During the same period in the previous year, the company earned $0.38 earnings per share. Oceaneering International’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Oceaneering International will post 1.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Algert Global LLC boosted its stake in Oceaneering International by 23.1% during the third quarter. Algert Global LLC now owns 100,013 shares of the oil and gas company’s stock worth $2,487,000 after buying an additional 18,760 shares during the period. Fisher Asset Management LLC grew its stake in shares of Oceaneering International by 32.3% during the third quarter. Fisher Asset Management LLC now owns 132,363 shares of the oil and gas company’s stock valued at $3,292,000 after buying an additional 32,297 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Oceaneering International by 21.0% in the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after buying an additional 1,105,263 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Oceaneering International by 10.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 266,885 shares of the oil and gas company’s stock worth $6,314,000 after acquiring an additional 24,283 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Oceaneering International by 1.3% during the third quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock worth $72,023,000 after purchasing an additional 36,593 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.