Oceaneering International (NYSE:OII) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

Several other research analysts have also issued reports on the stock. Weiss Ratings lowered shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Barclays lifted their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Citigroup increased their price objective on shares of Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.00.

Oceaneering International Price Performance

Oceaneering International stock opened at $44.51 on Friday. The business’s 50-day simple moving average is $48.16 and its 200 day simple moving average is $42.86. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 12.79 and a beta of 1.25. Oceaneering International has a 12-month low of $22.13 and a 12-month high of $54.25. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.17. The firm had revenue of $768.18 million during the quarter, compared to analyst estimates of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. As a group, research analysts anticipate that Oceaneering International will post 2.10 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Paul B. Murphy, Jr. sold 10,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $48.37, for a total value of $483,700.00. Following the completion of the sale, the director owned 68,916 shares in the company, valued at approximately $3,333,466.92. This represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Earl Childress sold 12,701 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $46.71, for a total value of $593,263.71. Following the completion of the transaction, the senior vice president directly owned 22,876 shares in the company, valued at $1,068,537.96. The trade was a 35.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,901 shares of company stock worth $1,542,864 over the last three months. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Oceaneering International in the 2nd quarter valued at about $35,000. Allworth Financial LP acquired a new stake in shares of Oceaneering International in the 2nd quarter valued at approximately $42,000. Public Employees Retirement System of Ohio bought a new position in Oceaneering International during the 2nd quarter worth approximately $54,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Oceaneering International during the first quarter valued at approximately $53,000. Finally, Persistent Asset Partners Ltd acquired a new position in Oceaneering International during the second quarter valued at approximately $66,000. Institutional investors own 93.93% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.