StockNews.com Begins Coverage on Oceaneering International (NYSE:OII)

StockNews.com began coverage on shares of Oceaneering International (NYSE:OII – Get Rating) in a report issued on Thursday morning. The firm issued a hold rating on the oil and gas company’s stock.

Several other analysts have also recently issued reports on OII. Barclays increased their target price on Oceaneering International from $13.00 to $22.00 and gave the stock an equal weight rating in a research report on Thursday, March 2nd. Benchmark reiterated a buy rating and set a $25.00 target price on shares of Oceaneering International in a research report on Monday, February 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Oceaneering International presently has a consensus rating of Moderate Buy and an average target price of $18.60.

Oceaneering International Stock Performance

Shares of OII opened at $16.55 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.28 and a debt-to-equity ratio of 1.33. Oceaneering International has a 52 week low of $7.25 and a 52 week high of $22.26. The business has a 50-day simple moving average of $19.89 and a two-hundred day simple moving average of $15.04. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 63.65 and a beta of 2.85.

Oceaneering International (NYSE:OII – Get Rating) last released its earnings results on Thursday, February 23rd. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.13). Oceaneering International had a return on equity of 6.28% and a net margin of 1.26%. The business had revenue of $536.22 million for the quarter, compared to analysts’ expectations of $549.29 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts expect that Oceaneering International will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Oceaneering International

Institutional investors have recently added to or reduced their stakes in the company. Byrne Asset Management LLC purchased a new position in Oceaneering International during the 3rd quarter valued at approximately $26,000. Point72 Hong Kong Ltd lifted its stake in shares of Oceaneering International by 250.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,804 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 2,003 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Oceaneering International in the 4th quarter valued at approximately $31,000. Quadrant Capital Group LLC lifted its stake in shares of Oceaneering International by 156.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,030 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Oceaneering International by 111.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,100 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 1,635 shares during the last quarter. Hedge funds and other institutional investors own 89.89% of the company’s stock.

About Oceaneering International

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Oceaneering International, Inc engages in the provision of engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries. It operates through the following business segments: Subsea Robotics, Manufactured Products, Offshore Projects Group (OPG), Integrity Management & Digital Solutions (IMDS), and Aerospace and Defense Technologies (ADTech).