Oceaneering International (NYSE:OII) Stock Rating Lowered by Citigroup

Citigroup cut shares of Oceaneering International (NYSE:OII) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat reports. They currently have $30.00 price target on the oil and gas company’s stock.

A number of other research firms have also commented on OII. TD Cowen boosted their price target on shares of Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $22.00 to $26.00 in a report on Wednesday, December 18th. Finally, Benchmark restated a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Oceaneering International has a consensus rating of “Hold” and a consensus target price of $29.25.

Oceaneering International Price Performance

Oceaneering International stock opened at $26.44 on Friday. The business has a 50 day simple moving average of $27.19 and a 200 day simple moving average of $26.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. The company has a market capitalization of $2.67 billion, a PE ratio of 20.03 and a beta of 2.41. Oceaneering International has a one year low of $18.95 and a one year high of $30.98.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The company 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 business posted $0.38 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that Oceaneering International will post 1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

A number of large investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new position in Oceaneering International during the 2nd quarter worth $38,000. Farther Finance Advisors LLC raised its position 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 worth $49,000 after acquiring an additional 1,905 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Oceaneering International during the third quarter valued at $57,000. GAMMA Investing LLC boosted its holdings in Oceaneering International by 108.3% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 1,412 shares during the last quarter. Finally, CWM LLC boosted its holdings in Oceaneering International by 165.5% in the third quarter. CWM LLC now owns 6,935 shares of the oil and gas company’s stock valued at $172,000 after acquiring an additional 4,323 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.