Analysts Set Oceaneering International (OII) Price Target at $20.41

Oceaneering International (NYSE:OII) has received a consensus recommendation of “Hold” from the twenty-four research firms that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $20.41.

A number of research firms have commented on OII. Zacks Investment Research raised shares of Oceaneering International from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Cowen set a $16.00 price objective on shares of Oceaneering International and gave the company a “hold” rating in a research note on Wednesday, March 14th. Jefferies Group raised shares of Oceaneering International from an “underperform” rating to a “hold” rating and upped their price objective for the company from $18.82 to $19.00 in a research note on Wednesday, March 14th. Barclays reaffirmed an “equal weight” rating on shares of Oceaneering International in a research note on Tuesday, February 27th. Finally, Loop Capital reduced their price objective on shares of Oceaneering International from $21.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, February 27th.

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OII stock traded up $0.62 during mid-day trading on Wednesday, reaching $18.54. 979,439 shares of the stock traded hands, compared to its average volume of 1,314,495. The company has a current ratio of 2.72, a quick ratio of 2.23 and a debt-to-equity ratio of 0.48. Oceaneering International has a 52-week low of $17.11 and a 52-week high of $28.21. The firm has a market capitalization of $1,825.45, a PE ratio of -264.86 and a beta of 1.46.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported ($0.08) EPS 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 company had revenue of $484.20 million during the quarter, compared to analyst estimates of $435.90 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was down .9% on a year-over-year basis. equities research analysts anticipate that Oceaneering International will post -0.65 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of OII. Magnetar Financial LLC bought a new position in Oceaneering International during the third quarter valued at approximately $1,684,000. California Public Employees Retirement System raised its position 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 valued at $9,676,000 after acquiring an additional 19,627 shares in the last quarter. Vident Investment Advisory LLC raised 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 valued at $24,356,000 after acquiring an additional 347,505 shares in the last quarter. Boston Partners raised 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 valued at $5,665,000 after acquiring an additional 86,936 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Oceaneering International by 1.1% during the third quarter. Principal Financial Group Inc. now owns 473,082 shares of the oil and gas company’s stock valued at $12,428,000 after acquiring an additional 5,052 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

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About Oceaneering International

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).

Analyst Recommendations for Oceaneering International (NYSE:OII)

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