Citigroup Raises Oceaneering International (NYSE:OII) Price Target to $25.00

Oceaneering International (NYSE:OII) had its price target upped by Citigroup from $20.00 to $25.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Several other research analysts have also commented on OII. Barclays boosted their price objective on Oceaneering International from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Oceaneering International currently has a consensus rating of “Hold” and an average price target of $27.00.

Oceaneering International Stock Performance

Shares of OII stock opened at $24.77 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.67 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.48 billion, a PE ratio of 12.51 and a beta of 1.64. The firm has a fifty day simple moving average of $22.55 and a two-hundred day simple moving average of $20.72. Oceaneering International has a 12 month low of $15.46 and a 12 month high of $30.98.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The firm had revenue of $698.16 million for the quarter, compared to the consensus estimate of $676.81 million. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. Analysts forecast that Oceaneering International will post 1.78 EPS for the current fiscal year.

Insider Activity at Oceaneering International

In related news, CFO Alan R. Curtis sold 14,840 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total transaction of $361,502.40. Following the completion of the transaction, the chief financial officer owned 155,259 shares in the company, valued at $3,782,109.24. The trade was a 8.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its stake in Oceaneering International by 7.7% during the 2nd quarter. Osaic Holdings Inc. now owns 31,093 shares of the oil and gas company’s stock valued at $644,000 after purchasing an additional 2,220 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Oceaneering International by 7.0% during the second quarter. Public Sector Pension Investment Board now owns 342,944 shares of the oil and gas company’s stock valued at $7,106,000 after acquiring an additional 22,455 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Oceaneering International during the second quarter valued at approximately $92,000. Tower Research Capital LLC TRC increased its holdings in shares of Oceaneering International by 432.1% in the second quarter. Tower Research Capital LLC TRC now owns 13,206 shares of the oil and gas company’s stock valued at $274,000 after purchasing an additional 10,724 shares during the last quarter. Finally, Corient Private Wealth LLC purchased a new position in Oceaneering International in the second quarter worth approximately $211,000. 93.93% of the stock is owned by institutional investors and hedge funds.

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.