Oceaneering International (NYSE:OII) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a buy rating in a report issued on Saturday.

OII has been the subject of several other reports. Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. TD Cowen raised their price target on Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Barclays upped their price objective on shares of Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Oceaneering International in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.00.

Oceaneering International Price Performance

Oceaneering International stock opened at $37.16 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.68. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 10.62 and a beta of 1.25. The firm has a 50-day moving average of $28.46 and a two-hundred day moving average of $25.60. Oceaneering International has a 1 year low of $15.46 and a 1 year high of $37.80.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The business had revenue of $668.57 million for the quarter, compared to analyst estimates of $678.16 million. During the same period last year, the company posted $0.37 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Oceaneering International will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the completion of the sale, the senior vice president directly owned 52,344 shares of the company’s stock, valued at approximately $1,379,264.40. This represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in Oceaneering International in the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Oceaneering International during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its position in shares of Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 1,111 shares in the last quarter. Quarry LP purchased a new position in Oceaneering International during the 3rd quarter worth $30,000. Finally, SBI Securities Co. Ltd. grew its stake in Oceaneering International by 255.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.