Oceaneering International (NYSE:OII) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Oceaneering International (NYSE:OII) from a buy rating to a hold rating in a report released on Friday.

Several other research analysts have also recently weighed in on the company. Benchmark restated a buy rating and set a $34.00 target price on shares of Oceaneering International in a report on Thursday. Barclays lowered their target price on Oceaneering International from $23.00 to $22.00 and set an equal weight rating on the stock in a report on Thursday, February 29th.

Oceaneering International Price Performance

NYSE:OII opened at $24.90 on Friday. Oceaneering International has a 12 month low of $14.99 and a 12 month high of $27.46. The stock has a 50 day moving average of $22.54 and a two-hundred day moving average of $21.80. The company has a current ratio of 1.76, a quick ratio of 1.50 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.52 billion, a P/E ratio of 23.49 and a beta of 2.49.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.16). Oceaneering International had a return on equity of 14.82% and a net margin of 4.36%. The firm had revenue of $599.09 million for the quarter, compared to analysts’ expectations of $613.58 million. On average, analysts expect that Oceaneering International will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC acquired a new position in shares of Oceaneering International during the 1st quarter worth approximately $284,000. Oldfield Partners LLP lifted its holdings in Oceaneering International by 4.0% in the first quarter. Oldfield Partners LLP now owns 67,229 shares of the oil and gas company’s stock valued at $1,573,000 after acquiring an additional 2,600 shares during the last quarter. Norden Group LLC acquired a new position in Oceaneering International in the first quarter valued at approximately $233,000. SteelPeak Wealth LLC acquired a new position in Oceaneering International in the first quarter valued at approximately $516,000. Finally, Hennessy Advisors Inc. lifted its holdings in Oceaneering International by 18.8% in the first quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company’s stock valued at $27,296,000 after acquiring an additional 184,300 shares during the last quarter. 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.