Oceaneering International (NYSE:OII) Stock Price Down 8.6% – What’s Next?

Oceaneering International, Inc. (NYSE:OII) fell 8.6% during trading on Monday . The stock traded as low as $46.58 and last traded at $46.7050. 405,627 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,133,605 shares. The stock had previously closed at $51.09.

Analyst Ratings Changes

Several research firms have issued reports on OII. Barclays increased their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Citigroup upped their price target on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Finally, Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Oceaneering International currently has an average rating of “Hold” and a consensus target price of $45.00.

Oceaneering International Price Performance

The stock has a market cap of $4.74 billion, a PE ratio of 13.68 and a beta of 1.17. The stock’s fifty day moving average is $48.74 and its 200-day moving average is $41.22. 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 posted its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.17. The company had revenue of $768.18 million for 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 revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. As a group, equities analysts anticipate that Oceaneering International, Inc. will post 2.1 EPS for the current year.

Insiders Place Their Bets

In other Oceaneering International news, SVP Earl Childress sold 12,701 shares of Oceaneering International 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 completion of the sale, the senior vice president directly owned 22,876 shares in the company, valued at $1,068,537.96. This trade represents a 35.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $48.37, for a total transaction of $483,700.00. Following the transaction, the director directly owned 68,916 shares of the company’s stock, valued at $3,333,466.92. The trade was a 12.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,901 shares of company stock worth $1,277,904 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OII. BlackRock Inc. purchased a new stake in shares of Oceaneering International during the 2nd quarter worth $664,659,000. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in shares of Oceaneering International in the fourth quarter valued at approximately $94,847,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Oceaneering International in the 2nd quarter valued at $92,100,000. Reinhart Partners LLC. acquired a new position in Oceaneering International in the second quarter valued at $66,795,000. Finally, Bank of New York Mellon Corp acquired a new position in Oceaneering International in the 2nd quarter valued at about $45,658,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston, Texas-based global engineering and technology company that provides products and services to the offshore energy, defense, aerospace, and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles (ROVs), subsea tooling, umbilicals, engineering services, and inspection, maintenance, and repair solutions for offshore infrastructure.

Oceaneering’s business also includes offshore project management, asset integrity management, digital and data solutions, and the design and manufacture of specialized equipment.