Oceaneering International (NYSE:OII) Sets New 52-Week Low – What’s Next?

Oceaneering International, Inc. (NYSE:OII) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $18.87 and last traded at $19.23, with a volume of 855268 shares. The stock had previously closed at $19.95.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on OII shares. TD Cowen upped their price target on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Citigroup lowered Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Friday, January 10th. StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Barclays dropped their target price on Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Finally, Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Oceaneering International presently has an average rating of “Hold” and an average price target of $28.25.

Oceaneering International Stock Up 1.2 %

The stock’s fifty day simple moving average is $24.64 and its two-hundred day simple moving average is $25.58. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 13.46 and a beta of 2.42.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $713.45 million during the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. On average, sell-side analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

Large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its position in shares of Oceaneering International by 87.9% during the fourth quarter. Mackenzie Financial Corp now owns 18,087 shares of the oil and gas company’s stock worth $472,000 after acquiring an additional 8,459 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Oceaneering International by 10.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,599 shares of the oil and gas company’s stock worth $4,188,000 after purchasing an additional 14,822 shares during the last quarter. iSAM Funds UK Ltd bought a new stake in shares of Oceaneering International during the fourth quarter valued at approximately $379,000. Teza Capital Management LLC acquired a new position in shares of Oceaneering International during the fourth quarter worth approximately $528,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Oceaneering International during the fourth quarter valued at $200,000. 93.93% of the stock is 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.