Oceaneering International (NYSE:OII) Price Target Raised to $27.00

Oceaneering International (NYSE:OII) had its price objective raised by equities research analysts at TD Cowen from $26.00 to $27.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price objective points to a potential downside of 0.77% from the stock’s current price.

A number of other brokerages have also recently commented on OII. Benchmark reaffirmed a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research note on Friday, October 25th. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $22.00 to $26.00 in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.75.

Oceaneering International Stock Performance

OII traded down $0.72 on Wednesday, reaching $27.21. 212,922 shares of the stock were exchanged, compared to its average volume of 550,463. The company’s 50-day moving average price is $27.09 and its 200 day moving average price is $26.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. The firm has a market capitalization of $2.75 billion, a PE ratio of 20.61 and a beta of 2.41. Oceaneering International has a fifty-two week low of $18.95 and a fifty-two week high of $30.98.

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

Institutional Investors Weigh In On Oceaneering International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Oceaneering International during the 2nd quarter worth approximately $38,000. Farther Finance Advisors LLC grew its position in Oceaneering International by 3,594.3% in the third 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 during the period. Millburn Ridgefield Corp acquired a new stake in Oceaneering International during the third quarter worth $57,000. GAMMA Investing LLC increased its position in shares of Oceaneering International by 108.3% during the 3rd 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 last quarter. Finally, CWM LLC lifted its position in Oceaneering International by 165.5% in the third quarter. CWM LLC now owns 6,935 shares of the oil and gas company’s stock valued at $172,000 after buying an additional 4,323 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.