Oceaneering International (NYSE:OII) Shares Gap Down Following Analyst Downgrade

Shares of Oceaneering International, Inc. (NYSE:OII) gapped down prior to trading on Wednesday after Barclays lowered their price target on the stock from $26.00 to $22.00. The stock had previously closed at $20.15, but opened at $19.64. Barclays currently has an equal weight rating on the stock. Oceaneering International shares last traded at $19.19, with a volume of 89,907 shares traded.

A number of other research analysts have also recently commented on OII. Pickering Energy Partners cut shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. StockNews.com downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Friday, January 10th. Finally, TD Cowen boosted their price target on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Oceaneering International currently has an average rating of “Hold” and a consensus price target of $28.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Oceaneering International by 0.6% during 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 in the last quarter. State Street Corp lifted its holdings in Oceaneering International by 2.1% during the third quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock worth $129,847,000 after buying an additional 107,394 shares during the period. Brown Advisory Inc. increased its holdings in shares of Oceaneering International by 22.5% in the 4th quarter. Brown Advisory Inc. now owns 5,129,668 shares of the oil and gas company’s stock valued at $133,782,000 after acquiring an additional 941,849 shares during the period. FMR LLC raised its position in shares of Oceaneering International by 1.3% in the 3rd quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock worth $72,023,000 after acquiring an additional 36,593 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Oceaneering International by 14.3% during the 4th quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company’s stock worth $74,112,000 after purchasing an additional 355,290 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Stock Performance

The business has a 50-day moving average of $25.24 and a two-hundred day moving average of $25.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46. The company has a market cap of $2.12 billion, a P/E ratio of 13.27 and a beta of 2.38.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $713.45 million during the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. On average, sell-side analysts predict that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Oceaneering International Company Profile

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.