Wall Street Zen Upgrades Oceaneering International (NYSE:OII) to “Buy”

Oceaneering International (NYSE:OII) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

Other analysts also recently issued research reports about the company. Barclays cut their price objective on Oceaneering International from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Pickering Energy Partners upgraded shares of Oceaneering International from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $28.00.

Oceaneering International Stock Up 1.1%

NYSE OII opened at $19.28 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46. The company’s 50 day simple moving average is $18.72 and its 200 day simple moving average is $22.87. Oceaneering International has a 12 month low of $15.46 and a 12 month high of $30.98. The company has a market capitalization of $1.94 billion, a P/E ratio of 13.39 and a beta of 1.54.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The company had revenue of $674.52 million for the quarter, compared to analyst estimates of $651.96 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. Oceaneering International’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share. Equities research analysts expect that Oceaneering International will post 1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Brown Advisory Inc. increased its holdings in shares of Oceaneering International by 27.6% in the 1st quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company’s stock valued at $142,767,000 after purchasing an additional 1,416,251 shares during the period. FIL Ltd acquired a new position in Oceaneering International in the 4th quarter valued at approximately $18,864,000. Nuveen LLC acquired a new position in Oceaneering International in the 1st quarter valued at approximately $11,993,000. American Century Companies Inc. increased its stake in Oceaneering International by 14.3% in the 4th quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company’s stock valued at $74,112,000 after buying an additional 355,290 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Oceaneering International in the 4th quarter valued at approximately $8,490,000. 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.