Brokerages Set Oceaneering International, Inc. (NYSE:OII) Price Target at $38.33

Oceaneering International, Inc. (NYSE:OII) has received a consensus recommendation of “Hold” from the five research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $38.3333.

A number of equities research analysts have recently weighed in on OII shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. TD Cowen raised their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Zacks Research cut Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Barclays boosted their price target on shares of Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Citigroup boosted their price objective on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th.

Insiders Place Their Bets

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares in the company, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of Oceaneering International

Hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in Oceaneering International in the third quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its position in shares of Oceaneering International by 335.6% in 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 purchasing an additional 1,111 shares during the last quarter. Quarry LP purchased a new position in Oceaneering International during the third quarter worth $30,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Oceaneering International during the 1st quarter worth about $53,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of Oceaneering International by 248.8% during the fourth quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company’s stock worth $55,000 after buying an additional 1,627 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Price Performance

OII stock opened at $39.42 on Friday. The business has a fifty day moving average of $38.07 and a two-hundred day moving average of $33.89. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 11.70 and a beta of 1.15. Oceaneering International has a 52-week low of $20.21 and a 52-week high of $41.15.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. As a group, research analysts anticipate that Oceaneering International will post 1.89 earnings per share for the current year.

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.