Oceaneering International, Inc. (NYSE:OII) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Oceaneering International, Inc. (NYSE:OII) have been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $38.3333.

A number of research firms recently commented on OII. TD Cowen boosted their price target on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. Barclays raised their target price on shares of Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Citigroup boosted their target price on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th.

Insider Activity

In related news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

Hedge funds and other institutional investors have recently modified their holdings of the business. Chelsea Counsel Co. acquired a new position in shares of Oceaneering International during the 1st quarter worth $568,000. NewEdge Advisors LLC boosted its stake in Oceaneering International by 34.3% in the first quarter. NewEdge Advisors LLC now owns 26,273 shares of the oil and gas company’s stock valued at $932,000 after buying an additional 6,713 shares in the last quarter. Carlson Capital L.P. grew its position in Oceaneering International by 2.5% in the first quarter. Carlson Capital L.P. now owns 32,800 shares of the oil and gas company’s stock valued at $1,163,000 after acquiring an additional 800 shares during the last quarter. Edgestream Partners L.P. raised its stake in Oceaneering International by 306.2% during the first quarter. Edgestream Partners L.P. now owns 116,544 shares of the oil and gas company’s stock worth $4,134,000 after acquiring an additional 87,851 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Oceaneering International by 393.6% during the first quarter. Janus Henderson Group PLC now owns 217,255 shares of the oil and gas company’s stock worth $7,710,000 after acquiring an additional 173,237 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Price Performance

Oceaneering International stock opened at $38.45 on Friday. The firm has a market cap of $3.83 billion, a PE ratio of 11.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.08 and a quick ratio of 1.79. The stock’s fifty day moving average price is $38.08 and its two-hundred day moving average price is $34.00. Oceaneering International has a one year low of $20.21 and a one year high of $41.15.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $692.43 million for the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, research analysts expect that Oceaneering International will post 1.89 EPS for the current fiscal year.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.