Oceaneering International’s (OII) Buy Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Oceaneering International (NYSE:OII) in a report published on Thursday, Benzinga reports. Benchmark currently has a $34.00 price target on the oil and gas company’s stock.

Other research analysts have also issued reports about the company. Barclays restated an underweight rating and issued a $21.00 target price (down from $22.00) on shares of Oceaneering International in a research note on Tuesday, May 14th. StockNews.com lowered shares of Oceaneering International from a buy rating to a hold rating in a research report on Friday, April 26th. Finally, Citigroup raised their price target on shares of Oceaneering International from $25.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, July 3rd.

Oceaneering International Price Performance

Shares of NYSE:OII opened at $28.92 on Thursday. Oceaneering International has a twelve month low of $18.67 and a twelve month high of $29.17. The company has a quick ratio of 1.45, a current ratio of 1.76 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 27.28 and a beta of 2.39. The business has a 50 day moving average price of $23.52 and a 200 day moving average price of $22.53.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $668.81 million for the quarter, compared to analyst estimates of $656.87 million. Oceaneering International had a net margin of 4.87% and a return on equity of 16.08%. Oceaneering International’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share. Research analysts predict that Oceaneering International will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On Oceaneering International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OII. EFG Asset Management North America Corp. bought a new position in shares of Oceaneering International in the second quarter valued at approximately $1,555,000. Louisiana State Employees Retirement System raised its position in Oceaneering International by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 51,000 shares of the oil and gas company’s stock valued at $1,207,000 after purchasing an additional 1,100 shares during the last quarter. Raymond James & Associates boosted its stake in Oceaneering International by 1.7% in the second quarter. Raymond James & Associates now owns 70,910 shares of the oil and gas company’s stock worth $1,678,000 after purchasing an additional 1,168 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Oceaneering International by 0.7% during the second quarter. Wedge Capital Management L L P NC now owns 66,685 shares of the oil and gas company’s stock worth $1,578,000 after purchasing an additional 450 shares during the last quarter. Finally, SteelPeak Wealth LLC increased its stake in shares of Oceaneering International by 25.5% in the second quarter. SteelPeak Wealth LLC now owns 27,680 shares of the oil and gas company’s stock valued at $655,000 after buying an additional 5,630 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.