Oceaneering International (NYSE:OII) Rating Lowered to Hold at Zacks Research

Oceaneering International (NYSE:OII) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Other research analysts have also issued research reports about the stock. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Barclays dropped their target price on Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, October 26th. Citigroup cut their target price on Oceaneering International from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, October 29th. Finally, Weiss Ratings downgraded Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $41.00.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $33.96 on Wednesday. The business’s 50-day simple moving average is $45.06 and its 200-day simple moving average is $40.42. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.97 and a current ratio of 2.20. Oceaneering International has a 52 week low of $22.13 and a 52 week high of $54.25. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 10.32 and a beta of 1.30.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). The company had revenue of $784.55 million during the quarter, compared to analyst estimates of $775.93 million. Oceaneering International had a return on equity of 16.87% and a net margin of 11.37%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 earnings per share. As a group, equities research analysts expect that Oceaneering International will post 2.10 earnings per share for the current fiscal year.

Insider Activity at Oceaneering International

In other news, CEO Roderick Larson sold 6,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $44.16, for a total value of $264,960.00. Following the completion of the sale, the chief executive officer directly owned 385,279 shares in the company, valued at approximately $17,013,920.64. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in Oceaneering International in the third quarter valued at approximately $26,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Oceaneering International during the 3rd quarter worth approximately $27,000. Integrated Wealth Concepts LLC bought a new stake in shares of Oceaneering International during the 2nd quarter worth approximately $35,000. Parallel Advisors LLC raised its stake in shares of Oceaneering International by 53.2% during the 3rd quarter. Parallel Advisors LLC now owns 835 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 290 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of Oceaneering International in the 2nd quarter valued at approximately $42,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.