Oceaneering International (NYSE:OII) Lifted to “Hold” at Zacks Investment Research

Oceaneering International (NYSE:OII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, March 20th.

According to Zacks, “Oceaneering International, Inc. is a global provider of engineered products and services. The Company develop products and services for use throughout the lifecycle of an offshore oilfield, from drilling to decommissioning. They operate the world’s premier fleet of work class ROVs. Additionally, they are a leader in offshore oilfield maintenance services, umbilicals, subsea hardware, and tooling. The Company also serve the aerospace, defense, and theme park industries. “

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A number of other equities research analysts have also recently weighed in on the stock. Cowen set a $16.00 price target on shares of Oceaneering International and gave the company a “hold” rating in a research report on Wednesday, March 14th. Jefferies Group raised shares of Oceaneering International from an “underperform” rating to a “hold” rating and upped their target price for the company from $18.82 to $19.00 in a report on Wednesday, March 14th. Barclays reaffirmed an “equal weight” rating on shares of Oceaneering International in a report on Tuesday, February 27th. Loop Capital reduced their target price on shares of Oceaneering International from $21.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, February 27th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $19.00 target price (down from $20.00) on shares of Oceaneering International in a report on Monday, February 26th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $21.97.

OII traded up $0.17 on Tuesday, reaching $20.51. The company had a trading volume of 912,809 shares, compared to its average volume of 1,372,989. Oceaneering International has a 1 year low of $17.11 and a 1 year high of $27.84. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.72 and a quick ratio of 2.23.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Oceaneering International had a net margin of 8.66% and a negative return on equity of 0.49%. The firm had revenue of $484.20 million during the quarter, compared to analysts’ expectations of $435.90 million. During the same period in the previous year, the company earned $0.03 earnings per share. Oceaneering International’s quarterly revenue was down .9% compared to the same quarter last year. equities analysts expect that Oceaneering International will post -0.65 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Magnetar Financial LLC purchased a new position in Oceaneering International during the third quarter worth about $1,684,000. California Public Employees Retirement System raised its holdings in Oceaneering International by 5.6% during the third quarter. California Public Employees Retirement System now owns 368,327 shares of the oil and gas company’s stock worth $9,676,000 after purchasing an additional 19,627 shares in the last quarter. HBK Investments L P acquired a new position in Oceaneering International during the fourth quarter worth about $461,000. Vident Investment Advisory LLC grew its position in Oceaneering International by 60.0% during the third quarter. Vident Investment Advisory LLC now owns 927,136 shares of the oil and gas company’s stock worth $24,356,000 after buying an additional 347,505 shares during the period. Finally, Boston Partners grew its position in Oceaneering International by 48.0% during the fourth quarter. Boston Partners now owns 267,959 shares of the oil and gas company’s stock worth $5,665,000 after buying an additional 86,936 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

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Oceaneering International Company Profile

Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).

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