Brokerages Set Oceaneering International, Inc. (NYSE:OII) Target Price at $34.33

Oceaneering International, Inc. (NYSE:OII) has been given a consensus recommendation of “Hold” by the five analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $36.6667.

OII has been the subject of several research analyst reports. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Citigroup increased their price objective on Oceaneering International from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, March 10th. Barclays increased their price objective on Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Zacks Research cut Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, TD Cowen increased their price target on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, April 30th.

Oceaneering International Stock Performance

Shares of Oceaneering International stock opened at $38.11 on Friday. The firm has a market capitalization of $3.80 billion, a P/E ratio of 11.31 and a beta of 1.17. Oceaneering International has a 52 week low of $18.45 and a 52 week high of $40.12. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $36.17 and its two-hundred day moving average is $30.34.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. Research analysts forecast that Oceaneering International will post 1.89 EPS for the current fiscal year.

Insider Transactions at Oceaneering International

In related news, COO Benjamin Laura sold 33,176 shares of Oceaneering International stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.51, for a total value of $1,244,431.76. Following the transaction, the chief operating officer directly owned 45,911 shares in the company, valued at $1,722,121.61. This trade represents a 41.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Holly Kriendler sold 19,007 shares of Oceaneering International stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.73, for a total transaction of $717,134.11. Following the completion of the transaction, the senior vice president owned 30,500 shares in the company, valued at approximately $1,150,765. This trade represents a 38.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 111,689 shares of company stock worth $4,204,360 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oceaneering International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amova Asset Management Americas Inc. lifted its holdings in Oceaneering International by 3.4% in the first quarter. Amova Asset Management Americas Inc. now owns 27,018 shares of the oil and gas company’s stock valued at $959,000 after acquiring an additional 885 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Oceaneering International by 5.5% in the first quarter. Illinois Municipal Retirement Fund now owns 51,096 shares of the oil and gas company’s stock valued at $1,812,000 after acquiring an additional 2,650 shares during the period. Goehring & Rozencwajg Associates LLC lifted its holdings in Oceaneering International by 25.5% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 713,586 shares of the oil and gas company’s stock valued at $25,311,000 after acquiring an additional 144,852 shares during the period. Meridian Management Co. acquired a new stake in Oceaneering International in the first quarter valued at $284,000. Finally, Bleakley Financial Group LLC lifted its holdings in Oceaneering International by 9.1% in the first quarter. Bleakley Financial Group LLC now owns 19,614 shares of the oil and gas company’s stock valued at $696,000 after acquiring an additional 1,639 shares during the period. Institutional investors and hedge funds 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.