Oceaneering International (NYSE:OII) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Oceaneering International (NYSE:OII) from a buy rating to a hold rating in a research note released on Saturday.

A number of other research analysts have also weighed in on the stock. Citigroup raised their price target on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Weiss Ratings raised shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Barclays increased their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Finally, TD Cowen lifted their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.00.

Oceaneering International Price Performance

OII opened at $50.76 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 14.59 and a beta of 1.15. The firm’s fifty day moving average price is $42.13 and its two-hundred day moving average price is $37.79. Oceaneering International has a 1 year low of $21.03 and a 1 year high of $53.98.

Insider Activity

In related news, SVP Christopher J. Dyer sold 1,200 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the completion of the transaction, the senior vice president owned 14,702 shares in the company, valued at approximately $700,550.30. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $48.37, for a total transaction of $483,700.00. Following the sale, the director owned 68,916 shares of the company’s stock, valued at $3,333,466.92. This trade represents a 12.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 31,901 shares of company stock worth $1,469,254. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Oceaneering International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock worth $1,312,000 after purchasing an additional 2,633 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Oceaneering International by 1.9% in the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock worth $2,634,000 after purchasing an additional 2,310 shares during the period. Strs Ohio purchased a new position in Oceaneering International in the first quarter valued at approximately $168,000. Norges Bank purchased a new position in Oceaneering International in the second quarter valued at approximately $1,485,000. Finally, Invesco Ltd. increased its position in Oceaneering International by 8.0% in the second quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock worth $13,472,000 after buying an additional 48,382 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.