Oceaneering International, Inc. (NYSE:OII) Receives $45.00 Consensus Target Price from Brokerages

Shares of Oceaneering International, Inc. (NYSE:OII) have earned a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $45.00.

OII has been the subject of several research reports. Weiss Ratings lowered Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. TD Cowen lifted their price target on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Citigroup upped their price target on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Barclays increased their price objective on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th.

Insider Buying and Selling at Oceaneering International

In related news, SVP Earl Childress sold 12,701 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the sale, the senior vice president owned 22,876 shares of the company’s stock, valued at $1,068,537.96. The trade was a 35.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director M Kevin Mcevoy sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.92, for a total transaction of $143,760.00. Following the sale, the director directly owned 134,133 shares in the company, valued at $6,427,653.36. The trade was a 2.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 26,901 shares of company stock valued at $1,277,904 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oceaneering International

Large investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its position in Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares in the last quarter. Quarry LP purchased a new position in Oceaneering International during the third quarter valued at $30,000. Allworth Financial LP purchased a new position in Oceaneering International during the second quarter valued at $42,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Oceaneering International in the first quarter worth $53,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Price Performance

Shares of NYSE OII opened at $53.01 on Friday. Oceaneering International has a 1 year low of $22.02 and a 1 year high of $54.25. The stock has a market capitalization of $5.28 billion, a P/E ratio of 15.23 and a beta of 1.15. The company’s 50-day moving average is $44.53 and its 200 day moving average is $39.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.46 by $0.17. The business had revenue of $768.18 million during the quarter, compared to analyst estimates of $735.69 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. Oceaneering International’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. On average, sell-side analysts expect that Oceaneering International will post 2.1 earnings per share for the current year.

About Oceaneering International

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.