Oceaneering International (NYSE:OII) Price Target Increased to $24.00 by Analysts at Barclays

Oceaneering International (NYSE:OII) had its price target lifted by Barclays from $21.00 to $24.00 in a report issued on Wednesday, Benzinga reports. Barclays currently has an underweight rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the company. Citigroup increased their price target on Oceaneering International from $25.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, July 3rd. StockNews.com lowered Oceaneering International from a buy rating to a hold rating in a report on Friday, April 26th. Finally, Benchmark reissued a buy rating and set a $34.00 price objective on shares of Oceaneering International in a report on Thursday, July 25th.

Oceaneering International Stock Performance

Shares of OII opened at $26.43 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.45 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 24.93 and a beta of 2.39. The stock has a 50 day moving average of $24.17 and a 200 day moving average of $22.94. Oceaneering International has a 12 month low of $18.67 and a 12 month high of $30.45.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $668.81 million for the quarter, compared to analysts’ expectations of $656.87 million. Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 earnings per share. As a group, sell-side analysts forecast that Oceaneering International will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On Oceaneering International

Institutional investors and hedge funds have recently bought and sold shares of the company. Neo Ivy Capital Management bought a new position in shares of Oceaneering International in the fourth quarter worth $44,000. Pineridge Advisors LLC bought a new position in shares of Oceaneering International in the fourth quarter worth $44,000. EntryPoint Capital LLC boosted its holdings in shares of Oceaneering International by 105.2% in the first quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 1,124 shares during the period. CWM LLC boosted its holdings in shares of Oceaneering International by 351.9% in the second quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,034 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Oceaneering International in the first quarter worth $105,000. 93.93% of the stock is owned by institutional investors.

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.