Oceaneering International (NYSE:OII) Cut to Neutral at Citigroup

Oceaneering International (NYSE:OII) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They presently have a $30.00 price target on the oil and gas company’s stock. Citigroup’s price target suggests a potential upside of 10.78% from the stock’s previous close.

Several other brokerages also recently weighed in on OII. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $22.00 to $26.00 in a research report on Wednesday, December 18th. Benchmark reaffirmed a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th. Finally, TD Cowen increased their price objective on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.25.

Oceaneering International Trading Down 3.0 %

NYSE:OII opened at $27.08 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The company has a market cap of $2.74 billion, a PE ratio of 20.52 and a beta of 2.41. Oceaneering International has a 52 week low of $18.95 and a 52 week high of $30.98. The business’s 50 day moving average is $27.19 and its two-hundred day moving average is $26.06.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The business had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. On average, analysts predict that Oceaneering International will post 1.4 EPS for the current year.

Institutional Trading of Oceaneering International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in Oceaneering International during the second quarter worth approximately $38,000. Farther Finance Advisors LLC boosted its stake in shares of Oceaneering International by 3,594.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,905 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Oceaneering International in the 3rd quarter worth $57,000. GAMMA Investing LLC raised its position in shares of Oceaneering International by 108.3% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 1,412 shares during the period. Finally, CWM LLC lifted its holdings in shares of Oceaneering International by 165.5% during the third quarter. CWM LLC now owns 6,935 shares of the oil and gas company’s stock valued at $172,000 after purchasing an additional 4,323 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

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.