Citigroup Boosts Oceaneering International (NYSE:OII) Price Target to $28.00

Oceaneering International (NYSE:OII) had its price objective raised by Citigroup from $25.00 to $28.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

Several other research analysts have also commented on OII. StockNews.com lowered Oceaneering International from a buy rating to a hold rating in a research report on Friday, April 26th. Barclays reaffirmed an underweight rating and set a $21.00 target price (down from $22.00) on shares of Oceaneering International in a research report on Tuesday, May 14th. Finally, Benchmark reaffirmed a buy rating and set a $34.00 target price on shares of Oceaneering International in a research report on Thursday, April 25th.

Oceaneering International Trading Down 0.8 %

OII opened at $23.83 on Wednesday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 22.48 and a beta of 2.39. The company has a current ratio of 1.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.76. Oceaneering International has a 12 month low of $18.56 and a 12 month high of $27.46. The stock has a fifty day moving average price of $22.83 and a 200-day moving average price of $22.09.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.16). The company had revenue of $599.09 million during the quarter, compared to the consensus estimate of $613.58 million. Oceaneering International had a return on equity of 14.82% and a net margin of 4.36%. As a group, equities research analysts anticipate that Oceaneering International will post 1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new stake in Oceaneering International during the 4th quarter valued at about $44,000. Pineridge Advisors LLC purchased a new stake in Oceaneering International during the 4th quarter valued at about $44,000. EntryPoint Capital LLC grew its stake in Oceaneering International by 105.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 1,124 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Oceaneering International during the 1st quarter valued at about $105,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Oceaneering International in the first quarter worth about $144,000. 93.93% of the stock is owned by institutional investors and hedge funds.

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.