Oceaneering International (NYSE:OII) Price Target Raised to $39.00 at Barclays

Oceaneering International (NYSE:OII) had its price objective upped by Barclays from $32.00 to $39.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective would indicate a potential upside of 5.38% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Zacks Research downgraded shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Citigroup raised their target price on Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Finally, TD Cowen increased their price target on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.67.

Oceaneering International Price Performance

Shares of NYSE OII traded up $0.43 during midday trading on Friday, reaching $37.01. 508,656 shares of the company traded hands, compared to its average volume of 1,247,068. Oceaneering International has a 12 month low of $18.45 and a 12 month high of $40.12. The firm has a market cap of $3.69 billion, a PE ratio of 10.97 and a beta of 1.17. The stock’s 50-day simple moving average is $36.14 and its 200-day simple moving average is $30.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The company had revenue of $692.43 million during the quarter, compared to analyst estimates of $671.35 million. During the same quarter in the previous year, the business posted $0.43 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Oceaneering International will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Benjamin Laura sold 5,106 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $36.88, for a total transaction of $188,309.28. Following the transaction, the chief operating officer directly owned 40,805 shares of the company’s stock, valued at approximately $1,504,888.40. This represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher J. Dyer sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $38.08, for a total value of $228,480.00. Following the completion of the transaction, the senior vice president owned 15,902 shares in the company, valued at approximately $605,548.16. The trade was a 27.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,689 shares of company stock worth $4,204,360 over the last three months. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Oceaneering International

Several hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in Oceaneering International in the 3rd quarter worth $28,000. Quarry LP purchased a new position in Oceaneering International during the 3rd quarter valued at $30,000. SBI Securities Co. Ltd. raised its holdings in Oceaneering International by 255.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 1,111 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Oceaneering International in the 1st quarter worth about $53,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.