Oceaneering International (NYSE:OII) Sets New 12-Month High Following Analyst Upgrade

Oceaneering International, Inc. (NYSE:OII)’s stock price hit a new 52-week high during trading on Wednesday after Barclays raised their price target on the stock from $21.00 to $24.00. Barclays currently has an underweight rating on the stock. Oceaneering International traded as high as $30.45 and last traded at $30.33, with a volume of 441797 shares trading hands. The stock had previously closed at $29.14.

A number of other analysts have also recently commented on OII. Citigroup lifted their price objective 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 reiterated a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Friday, April 26th.

Hedge Funds Weigh In On Oceaneering International

Several institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new stake in Oceaneering International in the 4th quarter worth about $44,000. Pineridge Advisors LLC purchased a new position in shares of Oceaneering International during the 4th quarter worth about $44,000. EntryPoint Capital LLC boosted its position in shares of Oceaneering International by 105.2% in the first quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 1,124 shares during the last quarter. CWM LLC grew its holdings in Oceaneering International by 351.9% in the second quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,034 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Oceaneering International during the first quarter worth approximately $105,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Stock Performance

The company has a market cap of $3.05 billion, a PE ratio of 28.32 and a beta of 2.39. The stock’s 50 day simple moving average is $23.98 and its two-hundred day simple moving average is $22.82. The company has a quick ratio of 1.45, a current ratio of 1.72 and a debt-to-equity ratio of 0.73.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Oceaneering International had a return on equity of 15.78% and a net margin of 4.87%. The firm had revenue of $668.81 million for the quarter, compared to analyst estimates of $656.87 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts anticipate that Oceaneering International, Inc. will post 1.4 earnings per share for the current year.

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.