Oceaneering International (OII) Upgraded to Buy at ValuEngine

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Oceaneering International (NYSE:OII) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other analysts have also issued reports on the company. Cowen set a $16.00 price target on Oceaneering International and gave the company a “hold” rating in a report on Wednesday, March 14th. Barclays reissued an “equal weight” rating on shares of Oceaneering International in a report on Tuesday, February 27th. Wells Fargo & Co reissued an “outperform” rating and set a $17.00 price target (down previously from $18.00) on shares of Oceaneering International in a report on Monday, February 26th. Jefferies Financial Group raised Oceaneering International from an “underperform” rating to a “hold” rating and boosted their price target for the company from $18.82 to $19.00 in a report on Wednesday, March 14th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $19.00 price target (down previously from $20.00) on shares of Oceaneering International in a report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company’s stock. Oceaneering International presently has a consensus rating of “Hold” and a consensus target price of $22.85.

Shares of OII traded up $1.18 during trading hours on Friday, hitting $24.64. The stock had a trading volume of 10,208,500 shares, compared to its average volume of 1,434,940. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.97 and a quick ratio of 2.47. Oceaneering International has a 12 month low of $17.11 and a 12 month high of $26.95. The firm has a market capitalization of $2.36 billion, a P/E ratio of -352.00 and a beta of 1.38.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, April 25th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.08). Oceaneering International had a net margin of 6.60% and a negative return on equity of 2.77%. The company had revenue of $416.00 million for the quarter, compared to the consensus estimate of $426.79 million. During the same period in the prior year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. analysts expect that Oceaneering International will post -1 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Oceaneering International in the fourth quarter valued at about $112,000. LPL Financial LLC purchased a new position in shares of Oceaneering International in the first quarter valued at about $186,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Oceaneering International in the first quarter valued at about $227,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Oceaneering International by 869.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,918 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 10,689 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Oceaneering International in the first quarter valued at about $268,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Oceaneering International (NYSE:OII)

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