Oceaneering International (NYSE:OII) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Oceaneering International (NYSE:OII) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks reports.

Other analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Barclays cut their price objective on shares of Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, October 26th. Citigroup reduced their price objective on shares of Oceaneering International from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, October 29th. Finally, Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Oceaneering International presently has an average rating of “Hold” and an average price target of $41.00.

Oceaneering International Trading Down 6.7%

Shares of OII opened at $33.96 on Wednesday. The business has a 50-day moving average of $45.06 and a 200 day moving average of $40.42. Oceaneering International has a fifty-two week low of $22.13 and a fifty-two week high of $54.25. The firm has a market cap of $3.38 billion, a P/E ratio of 10.32 and a beta of 1.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.97 and a current ratio of 2.20.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The firm had revenue of $784.55 million during the quarter, compared to the consensus estimate of $775.93 million. Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, research analysts forecast that Oceaneering International will post 2.10 EPS for the current year.

Insiders Place Their Bets

In other Oceaneering International news, CEO Roderick Larson sold 6,000 shares of Oceaneering International stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $44.16, for a total transaction of $264,960.00. Following the completion of the transaction, the chief executive officer owned 385,279 shares of the company’s stock, valued at $17,013,920.64. The trade was a 1.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Oceaneering International

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Oceaneering International during the second quarter worth about $664,659,000. Morgan Stanley Institutional Investment Advisors LLC purchased a new stake in shares of Oceaneering International in the 2nd quarter valued at about $124,235,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Oceaneering International in the 2nd quarter valued at about $92,100,000. Reinhart Partners LLC. purchased a new stake in shares of Oceaneering International in the 2nd quarter valued at about $66,795,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Oceaneering International during the 2nd quarter valued at about $45,658,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.