Barclays Lowers Oceaneering International (NYSE:OII) Price Target to $22.00

Oceaneering International (NYSE:OII) had its price target reduced by analysts at Barclays from $24.00 to $22.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the oil and gas company’s stock. Barclays‘s price target would suggest a potential downside of 10.39% from the company’s current price.

OII has been the topic of several other reports. Citigroup raised their price target on Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Benchmark restated a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th.

Oceaneering International Price Performance

Shares of NYSE:OII traded down $0.19 on Thursday, hitting $24.55. The company’s stock had a trading volume of 344,591 shares, compared to its average volume of 820,111. The company has a 50-day simple moving average of $25.18 and a 200 day simple moving average of $24.53. Oceaneering International has a 1 year low of $18.67 and a 1 year high of $30.45. The company has a market capitalization of $2.49 billion, a PE ratio of 18.53 and a beta of 2.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.42.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm had revenue of $679.81 million for the quarter, compared to analysts’ expectations of $693.69 million. During the same period in the prior year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that Oceaneering International will post 1.38 EPS for the current fiscal year.

Insider Transactions at Oceaneering International

In related news, Director Karen H. Beachy sold 3,300 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the sale, the director now owns 28,229 shares in the company, valued at approximately $647,573.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the sale, the director now owns 28,229 shares of the company’s stock, valued at approximately $647,573.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director M Kevin Mcevoy sold 9,675 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total value of $252,711.00. Following the sale, the director now directly owns 141,837 shares of the company’s stock, valued at $3,704,782.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,975 shares of company stock worth $585,413 over the last quarter. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oceaneering International

Several institutional investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC lifted its position in 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 valued at $1,578,000 after purchasing an additional 450 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Oceaneering International by 0.4% in the first quarter. Concurrent Investment Advisors LLC now owns 126,350 shares of the oil and gas company’s stock valued at $2,957,000 after acquiring an additional 465 shares during the period. Arizona State Retirement System raised its stake in shares of Oceaneering International by 2.0% in the second quarter. Arizona State Retirement System now owns 28,222 shares of the oil and gas company’s stock valued at $668,000 after acquiring an additional 540 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Oceaneering International by 5.4% in the first quarter. Bleakley Financial Group LLC now owns 12,158 shares of the oil and gas company’s stock valued at $284,000 after acquiring an additional 628 shares during the period. Finally, Shell Asset Management Co. raised its stake in shares of Oceaneering International by 5.2% in the first quarter. Shell Asset Management Co. now owns 15,086 shares of the oil and gas company’s stock valued at $353,000 after acquiring an additional 749 shares during the period. Institutional investors own 93.93% of the company’s stock.

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.