Oceaneering International (NYSE:OII) Shares Gap Up – Should You Buy?

Oceaneering International, Inc. (NYSE:OII)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $22.01, but opened at $22.50. Oceaneering International shares last traded at $22.51, with a volume of 110,332 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Pickering Energy Partners downgraded Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Barclays reduced their target price on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Friday, January 10th. StockNews.com cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Oceaneering International currently has an average rating of “Hold” and an average price target of $28.25.

Oceaneering International Trading Up 1.3 %

The company’s 50-day moving average price is $23.46 and its 200 day moving average price is $25.22. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74. The stock has a market cap of $2.25 billion, a PE ratio of 15.49 and a beta of 2.42.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $713.45 million during the quarter, compared to analyst estimates 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 forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

Institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Oceaneering International during the fourth quarter worth $475,000. Mackenzie Financial Corp grew its stake in Oceaneering International by 87.9% during the 4th quarter. Mackenzie Financial Corp now owns 18,087 shares of the oil and gas company’s stock worth $472,000 after purchasing an additional 8,459 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Oceaneering International by 10.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,599 shares of the oil and gas company’s stock worth $4,188,000 after purchasing an additional 14,822 shares during the period. iSAM Funds UK Ltd acquired a new stake in Oceaneering International in the 4th quarter valued at about $379,000. Finally, Teza Capital Management LLC purchased a new position in shares of Oceaneering International in the 4th quarter valued at about $528,000. 93.93% of the stock is owned by institutional investors and hedge funds.

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.