TD Cowen Boosts Oceaneering International (NYSE:OII) Price Target to $27.00

Oceaneering International (NYSE:OII) had its price objective upped by TD Cowen from $26.00 to $27.00 in a report released on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the oil and gas company’s stock.

Several other analysts have also recently commented on the company. Benchmark restated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $22.00 to $26.00 in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.75.

Oceaneering International Price Performance

NYSE:OII opened at $27.08 on Wednesday. Oceaneering International has a 12-month low of $18.95 and a 12-month high of $30.98. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 20.52 and a beta of 2.41. The company’s 50-day moving average is $27.14 and its two-hundred day moving average is $26.05. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The firm had revenue of $679.81 million for the quarter, compared to analyst estimates of $693.69 million. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Research analysts expect that Oceaneering International will post 1.4 EPS for the current year.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently modified their holdings of OII. Congress Asset Management Co. purchased a new position in Oceaneering International in the third quarter valued at approximately $38,819,000. Earnest Partners LLC grew its stake in Oceaneering International by 21.0% during the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after buying an additional 1,105,263 shares during the period. Victory Capital Management Inc. raised its stake in shares of Oceaneering International by 101.6% in the 2nd quarter. Victory Capital Management Inc. now owns 550,077 shares of the oil and gas company’s stock valued at $13,015,000 after acquiring an additional 277,247 shares during the period. Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Oceaneering International in the 3rd quarter valued at $6,106,000. Finally, American Century Companies Inc. boosted its position in Oceaneering International by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 2,022,378 shares of the oil and gas company’s stock worth $47,849,000 after purchasing an additional 239,701 shares during the period. 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.