Oceaneering International (NYSE:OII) Price Target Raised to $27.00

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

Several other brokerages have also recently issued reports on OII. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $22.00 to $26.00 in a report on Wednesday, December 18th. Benchmark reaffirmed a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $29.25.

Oceaneering International Stock Down 2.4 %

Shares of NYSE OII opened at $26.44 on Wednesday. Oceaneering International has a one year low of $18.95 and a one year high of $30.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. The firm’s 50 day simple moving average is $27.19 and its two-hundred day simple moving average is $26.06. The stock has a market capitalization of $2.67 billion, a P/E ratio of 20.03 and a beta of 2.41.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS 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 business had revenue of $679.81 million for the quarter, compared to the consensus estimate of $693.69 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, analysts expect that Oceaneering International will post 1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

Several large investors have recently modified their holdings of the stock. Earnest Partners LLC raised its position in shares of Oceaneering International by 21.0% in the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after purchasing an additional 1,105,263 shares during the last quarter. State Street Corp increased its holdings in Oceaneering International by 2.1% in the 3rd quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock worth $129,847,000 after buying an additional 107,394 shares in the last quarter. FMR LLC increased its holdings in Oceaneering International by 1.3% in the 3rd quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock worth $72,023,000 after buying an additional 36,593 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Oceaneering International by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock worth $64,003,000 after buying an additional 43,941 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Oceaneering International by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,279,039 shares of the oil and gas company’s stock valued at $56,691,000 after purchasing an additional 26,328 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.