Oceaneering International (NYSE:OII) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Oceaneering International (NYSE:OII) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other equities research analysts have also weighed in on the company. TD Cowen raised their target price on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Citigroup lowered Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research report on Friday, January 10th. Pickering Energy Partners lowered Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Finally, Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $22.00 to $26.00 in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $29.25.

Oceaneering International Price Performance

Shares of NYSE OII opened at $22.09 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74. Oceaneering International has a fifty-two week low of $19.68 and a fifty-two week high of $30.98. The firm has a market capitalization of $2.45 billion, a PE ratio of 15.34 and a beta of 2.38. The stock’s 50-day simple moving average is $25.42 and its 200-day simple moving average is $25.92.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. The business had revenue of $713.45 million for the quarter, compared to analyst estimates of $681.60 million. As a group, equities research analysts forecast that Oceaneering International will post 1.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Oceaneering International by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,480,517 shares of the oil and gas company’s stock valued at $325,492,000 after purchasing an additional 69,337 shares during the period. State Street Corp increased its holdings in shares of Oceaneering International by 2.1% in the third quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock valued at $129,847,000 after purchasing an additional 107,394 shares during the period. Brown Advisory Inc. increased its holdings in shares of Oceaneering International by 22.5% in the fourth quarter. Brown Advisory Inc. now owns 5,129,668 shares of the oil and gas company’s stock valued at $133,782,000 after purchasing an additional 941,849 shares during the period. FMR LLC increased its holdings in shares of Oceaneering International by 1.3% in the third quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock valued at $72,023,000 after purchasing an additional 36,593 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Oceaneering International by 14.3% in the fourth quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company’s stock valued at $74,112,000 after purchasing an additional 355,290 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.