Oceaneering International (NYSE:OII) Shares Gap Up – What’s Next?

Shares of Oceaneering International, Inc. (NYSE:OII) gapped up prior to trading on Wednesday . The stock had previously closed at $22.01, but opened at $22.50. Oceaneering International shares last traded at $22.51, with a volume of 110,332 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. TD Cowen raised their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. StockNews.com lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Citigroup downgraded shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research note on Friday, January 10th. Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 14th. Finally, Barclays lowered their price target on Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.25.

Oceaneering International Price Performance

The stock has a market cap of $2.21 billion, a P/E ratio of 15.23 and a beta of 2.42. The business’s 50 day moving average price is $23.28 and its two-hundred day moving average price is $25.18. The company has a current ratio of 1.74, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67.

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

Hedge Funds Weigh In On Oceaneering International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Oceaneering International during the fourth quarter worth about $40,000. Millburn Ridgefield Corp purchased a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $57,000. Tower Research Capital LLC TRC increased its position in Oceaneering International by 191.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company’s stock valued at $85,000 after buying an additional 2,131 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Oceaneering International by 354.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 3,157 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Oceaneering International in the fourth quarter worth $119,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.