Oceaneering International (NYSE:OII) Shares Gap Up to $23.05

Oceaneering International, Inc. (NYSE:OII)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $23.05, but opened at $23.91. Oceaneering International shares last traded at $22.99, with a volume of 397,988 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on OII. Benchmark reissued a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a report on Thursday. StockNews.com raised Oceaneering International from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Barclays reduced their price target on shares of Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th.

Oceaneering International Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.78. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 24.57 and a beta of 2.49. The business’s fifty day simple moving average is $22.43 and its 200 day simple moving average is $21.77.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). The firm had revenue of $599.09 million during the quarter, compared to analyst estimates of $613.58 million. Oceaneering International had a return on equity of 14.00% and a net margin of 4.02%. Research analysts predict that Oceaneering International, Inc. will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

Several institutional investors and hedge funds have recently bought and sold shares of the business. Neo Ivy Capital Management purchased a new stake in shares of Oceaneering International in the 4th quarter valued at approximately $44,000. Pineridge Advisors LLC acquired a new stake in shares of Oceaneering International in the fourth quarter worth about $44,000. Exchange Traded Concepts LLC acquired a new stake in shares of Oceaneering International in the third quarter worth about $93,000. Meridian Management Co. acquired a new position in shares of Oceaneering International during the 3rd quarter worth about $206,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Oceaneering International in the 3rd quarter valued at approximately $206,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.