Oceaneering International (NYSE:OII) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Oceaneering International (NYSE:OII) from a buy rating to a hold rating in a research note released on Saturday.

A number of other brokerages also recently commented on OII. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Barclays increased their target price on Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday, December 29th. Finally, TD Cowen upped their price objective on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Oceaneering International has a consensus rating of “Hold” and a consensus target price of $25.00.

Oceaneering International Stock Up 3.1%

OII stock opened at $33.20 on Friday. The company’s 50 day moving average price is $26.98 and its 200 day moving average price is $24.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.68 and a current ratio of 1.97. Oceaneering International has a fifty-two week low of $15.46 and a fifty-two week high of $33.21. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 14.50 and a beta of 1.25.

Insider Activity

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of Oceaneering International stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $26.35, for a total transaction of $768,234.25. Following the sale, the senior vice president owned 52,344 shares in the company, valued at approximately $1,379,264.40. The trade was a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OII. Balyasny Asset Management L.P. lifted its stake in Oceaneering International by 916.6% in the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock valued at $28,219,000 after buying an additional 1,227,950 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Oceaneering International by 12.2% in the 2nd quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock valued at $152,202,000 after acquiring an additional 799,718 shares during the period. Boston Trust Walden Corp purchased a new stake in Oceaneering International in the 2nd quarter valued at $10,901,000. JPMorgan Chase & Co. boosted its stake in Oceaneering International by 94.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company’s stock worth $18,930,000 after purchasing an additional 371,586 shares during the period. Finally, Tudor Investment Corp ET AL grew its position in Oceaneering International by 210.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock worth $12,190,000 after purchasing an additional 333,666 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 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.