Barclays Raises Oceaneering International (NYSE:OII) Price Target to $24.00

Oceaneering International (NYSE:OII) had its target price lifted by research analysts at Barclays from $21.00 to $24.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas company’s stock. Barclays‘s target price indicates a potential downside of 19.97% from the company’s previous close.

A number of other analysts have also recently weighed in on OII. Citigroup raised their price objective on shares of Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Benchmark reissued a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a report on Thursday, July 25th. Finally, StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

Oceaneering International Trading Up 2.9 %

Oceaneering International stock traded up $0.85 during midday trading on Wednesday, hitting $29.99. 598,372 shares of the stock were exchanged, compared to its average volume of 849,072. Oceaneering International has a fifty-two week low of $18.67 and a fifty-two week high of $30.45. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 28.57 and a beta of 2.39. The stock’s 50-day simple moving average is $23.84 and its 200 day simple moving average is $22.77. The company has a current ratio of 1.72, a quick ratio of 1.45 and a debt-to-equity ratio of 0.73.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. The business had revenue of $668.81 million during the quarter, compared to analysts’ expectations of $656.87 million. During the same period in the previous year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Oceaneering International will post 1.4 EPS for the current year.

Hedge Funds Weigh In On Oceaneering International

Institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management acquired a new position in shares of Oceaneering International in the 4th quarter valued at $44,000. Pineridge Advisors LLC purchased a new position in Oceaneering International in the 4th quarter valued at $44,000. EntryPoint Capital LLC grew its position in Oceaneering International by 105.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 1,124 shares during the last quarter. CWM LLC grew its position in Oceaneering International by 351.9% in the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 2,034 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Oceaneering International in the 1st quarter valued at $105,000. 93.93% of the stock is owned by institutional investors and hedge funds.

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.