Oceaneering International (NYSE:OII) Trading 3.4% Higher – What’s Next?

Shares of Oceaneering International, Inc. (NYSE:OII) shot up 3.4% during mid-day trading on Thursday . The stock traded as high as $20.23 and last traded at $20.02. 169,689 shares traded hands during trading, a decline of 80% from the average session volume of 844,855 shares. The stock had previously closed at $19.36.

Analyst Upgrades and Downgrades

OII has been the subject of a number of analyst reports. StockNews.com downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. TD Cowen boosted their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Friday, January 10th. Barclays dropped their target price on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Finally, Pickering Energy Partners lowered shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.25.

Oceaneering International Trading Up 3.2 %

The company has a quick ratio of 1.46, a current ratio of 1.74 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $2.03 billion, a P/E ratio of 14.01 and a beta of 2.42. The firm’s 50 day simple moving average is $24.21 and its two-hundred day simple moving average is $25.45.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. The company had revenue of $713.45 million during the quarter, compared to the consensus estimate of $681.60 million. As a group, analysts forecast that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently bought and sold shares of OII. Brown Advisory Inc. increased its stake in Oceaneering International by 22.5% in the fourth quarter. Brown Advisory Inc. now owns 5,129,668 shares of the oil and gas company’s stock valued at $133,782,000 after purchasing an additional 941,849 shares in the last quarter. FIL Ltd bought a new stake in shares of Oceaneering International during the fourth quarter worth about $18,864,000. American Century Companies Inc. increased its position in shares of Oceaneering International by 14.3% during the fourth quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company’s stock worth $74,112,000 after acquiring an additional 355,290 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Oceaneering International during the fourth quarter worth about $8,490,000. Finally, Loomis Sayles & Co. L P increased its position in shares of Oceaneering International by 14.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,106,002 shares of the oil and gas company’s stock worth $54,925,000 after acquiring an additional 267,230 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

About Oceaneering International

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.