Barclays Has Lowered Expectations for Oceaneering International (NYSE:OII) Stock Price

Oceaneering International (NYSE:OII) had its target price lowered by Barclays from $24.00 to $22.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an underweight rating on the oil and gas company’s stock.

OII has been the subject of several other reports. Benchmark reaffirmed a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. Citigroup lifted their price objective on shares of Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd.

Oceaneering International Trading Up 0.2 %

NYSE OII opened at $24.44 on Thursday. The company has a fifty day moving average of $25.11 and a 200 day moving average of $24.55. The company has a market capitalization of $2.47 billion, a PE ratio of 18.52 and a beta of 2.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.42. Oceaneering International has a 1 year low of $18.67 and a 1 year high of $30.45.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The company had revenue of $679.81 million during the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. Research analysts forecast that Oceaneering International will post 1.38 earnings per share for the current year.

Insider Transactions at Oceaneering International

In related news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the sale, the director now owns 28,229 shares of the company’s stock, valued at approximately $647,573.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Karen H. Beachy sold 3,300 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the transaction, the director now owns 28,229 shares in the company, valued at $647,573.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Kevin Mcevoy sold 9,675 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total transaction of $252,711.00. Following the completion of the transaction, the director now directly owns 141,837 shares in the company, valued at $3,704,782.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,975 shares of company stock valued at $585,413 in the last three months. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Oceaneering International

Several large investors have recently made changes to their positions in OII. Congress Asset Management Co. acquired a new stake in Oceaneering International during the 3rd quarter worth $38,819,000. Earnest Partners LLC raised its holdings in Oceaneering International by 21.0% in the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock valued at $150,601,000 after acquiring an additional 1,105,263 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Oceaneering International by 46.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,253,175 shares of the oil and gas company’s stock worth $29,323,000 after purchasing an additional 398,209 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Oceaneering International by 101.6% during the 2nd quarter. Victory Capital Management Inc. now owns 550,077 shares of the oil and gas company’s stock worth $13,015,000 after purchasing an additional 277,247 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of Oceaneering International in the third quarter valued at approximately $6,106,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Company Profile

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.