Analysts Set Oceaneering International, Inc. (NYSE:OII) PT at $11.35

Shares of Oceaneering International, Inc. (NYSE:OII) have received a consensus rating of “Hold” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.76.

Several research firms have commented on OII. Citigroup increased their price objective on shares of Oceaneering International from $10.00 to $18.00 in a research note on Tuesday, March 9th. Barclays raised their price target on shares of Oceaneering International from $12.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, March 1st. Zacks Investment Research upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, May 4th. Bank of America upgraded shares of Oceaneering International from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.50 to $15.00 in a research note on Tuesday. Finally, Cowen raised their price target on shares of Oceaneering International from $10.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 3rd.

In other Oceaneering International news, Director M Kevin Mcevoy sold 68,539 shares of the firm’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $14.50, for a total value of $993,815.50. Following the completion of the transaction, the director now directly owns 159,909 shares of the company’s stock, valued at approximately $2,318,680.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. First Trust Advisors LP increased its position in shares of Oceaneering International by 141.7% in the first quarter. First Trust Advisors LP now owns 140,671 shares of the oil and gas company’s stock valued at $2,218,000 after acquiring an additional 82,474 shares during the period. AQR Capital Management LLC increased its position in shares of Oceaneering International by 95.5% in the third quarter. AQR Capital Management LLC now owns 22,418 shares of the oil and gas company’s stock valued at $79,000 after acquiring an additional 10,953 shares during the period. Sei Investments Co. increased its position in shares of Oceaneering International by 1.9% in the third quarter. Sei Investments Co. now owns 164,491 shares of the oil and gas company’s stock valued at $579,000 after acquiring an additional 3,015 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Oceaneering International by 161.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 76,810 shares of the oil and gas company’s stock valued at $611,000 after acquiring an additional 47,400 shares during the period. Finally, CWM LLC purchased a new position in shares of Oceaneering International in the fourth quarter valued at about $121,000. 83.41% of the stock is owned by institutional investors and hedge funds.

NYSE:OII traded up $0.37 on Tuesday, hitting $14.41. The stock had a trading volume of 1,029,120 shares, compared to its average volume of 1,201,576. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.27 and a current ratio of 2.61. The stock has a market cap of $1.44 billion, a P/E ratio of -1.89 and a beta of 3.60. Oceaneering International has a 1 year low of $3.31 and a 1 year high of $15.83. The firm’s fifty day simple moving average is $11.55 and its two-hundred day simple moving average is $9.50.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, April 28th. The oil and gas company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.09. The firm had revenue of $437.55 million during the quarter, compared to analyst estimates of $429.05 million. Oceaneering International had a negative net margin of 37.40% and a negative return on equity of 3.56%. The company’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. Equities research analysts predict that Oceaneering International will post -0.52 EPS for the current year.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide. The company's Subsea Robotics segment provides remotely operated vehicles (ROVs) to customers in the energy industry for drilling support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance and repair.

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Analyst Recommendations for Oceaneering International (NYSE:OII)

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