Oceaneering International (NYSE:OII) Upgraded at Pickering Energy Partners

Oceaneering International (NYSE:OII) was upgraded by research analysts at Pickering Energy Partners from an “underperform” rating to a “neutral” rating in a research note issued on Wednesday,Briefing.com Automated Import reports.

Other analysts also recently issued research reports about the stock. 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. TD Cowen boosted their price target on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Barclays lowered their price objective on Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Finally, StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.25.

Oceaneering International Price Performance

Shares of NYSE OII opened at $22.27 on Wednesday. The business’s 50 day moving average is $22.98 and its 200-day moving average is $25.19. The firm has a market cap of $2.24 billion, a P/E ratio of 15.47 and a beta of 2.42. Oceaneering International has a 1-year low of $18.87 and a 1-year high of $30.98. The company has a current ratio of 1.74, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67.

Oceaneering International (NYSE:OII) last posted its 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). Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. The firm had revenue of $713.45 million for the quarter, compared to analyst estimates of $681.60 million. Equities research analysts predict that Oceaneering International will post 1.78 earnings per share for the current year.

Institutional Investors Weigh In On Oceaneering International

Hedge funds have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in Oceaneering International during the 4th quarter worth approximately $40,000. Millburn Ridgefield Corp bought a new stake in shares of Oceaneering International during the third quarter worth $57,000. Tower Research Capital LLC TRC increased its holdings in shares of Oceaneering International by 191.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company’s stock worth $85,000 after buying an additional 2,131 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Oceaneering International by 354.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 3,157 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Oceaneering International during the 4th quarter valued at $119,000. 93.93% of the stock is currently 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.