Oceaneering International (NYSE:OII) Earns Buy Rating from Benchmark

Oceaneering International (NYSE:OII)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a research note issued to investors on Thursday, Benzinga reports. They presently have a $34.00 price objective on the oil and gas company’s stock. Benchmark’s target price would suggest a potential upside of 47.00% from the stock’s current price.

OII has been the topic of a number of other reports. StockNews.com raised Oceaneering International from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Barclays cut their target price on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th.

Oceaneering International Price Performance

Shares of NYSE OII traded up $0.08 during trading hours on Thursday, reaching $23.13. 565,509 shares of the stock traded hands, compared to its average volume of 813,523. The company has a market capitalization of $2.35 billion, a P/E ratio of 24.48 and a beta of 2.49. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.75. Oceaneering International has a 52-week low of $14.99 and a 52-week high of $27.46. The company’s 50-day simple moving average is $22.43 and its two-hundred day simple moving average is $21.77.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). The firm had revenue of $599.09 million for the quarter, compared to analysts’ expectations of $613.58 million. Oceaneering International had a net margin of 4.02% and a return on equity of 14.00%. Equities research analysts forecast that Oceaneering International will post 1.54 EPS for the current year.

Hedge Funds Weigh In On Oceaneering International

Several institutional investors have recently added to or reduced their stakes in OII. Glenorchy Capital Ltd bought a new stake in shares of Oceaneering International during the 4th quarter worth approximately $1,488,000. Louisiana State Employees Retirement System bought a new stake in shares of Oceaneering International during the 4th quarter worth approximately $1,073,000. Invesco Ltd. lifted its stake in shares of Oceaneering International by 27.0% during the 3rd quarter. Invesco Ltd. now owns 1,202,565 shares of the oil and gas company’s stock worth $30,930,000 after acquiring an additional 256,036 shares during the last quarter. FMR LLC lifted its stake in shares of Oceaneering International by 18.9% during the 3rd quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock worth $114,134,000 after acquiring an additional 705,534 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in shares of Oceaneering International by 541.1% during the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after acquiring an additional 829,000 shares during the last quarter. Hedge funds and other 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.