Oceaneering International (NYSE:OII) Stock Price Down 4.9% – Should You Sell?

Oceaneering International, Inc. (NYSE:OII)’s stock price was down 4.9% during trading on Thursday . The company traded as low as $23.01 and last traded at $23.50. Approximately 171,604 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 811,097 shares. The stock had previously closed at $24.70.

Analysts Set New Price Targets

A number of equities analysts recently commented on OII shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Oceaneering International in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup boosted their price objective on shares of Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Finally, Barclays boosted their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.67.

Oceaneering International Stock Performance

The business has a 50-day moving average price of $24.02 and a 200-day moving average price of $21.46. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 10.33 and a beta of 1.50. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 0.53.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.13. The business had revenue of $742.90 million for the quarter, compared to the consensus estimate of $709.48 million. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, sell-side analysts forecast that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Insider Buying and Selling at Oceaneering International

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

Institutional Investors Weigh In On Oceaneering International

Large investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC purchased a new stake in shares of Oceaneering International during the third quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Oceaneering International by 335.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Oceaneering International by 11,380.8% during the second quarter. IFP Advisors Inc now owns 2,985 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 2,959 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Oceaneering International by 33.2% during the second quarter. Smartleaf Asset Management LLC now owns 2,995 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 747 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Oceaneering International by 29.7% during the first quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 711 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other 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.