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

Oceaneering International (NYSE:OII) had its target price upped by investment analysts at Citigroup from $25.00 to $28.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s target price would suggest a potential upside of 16.52% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Barclays reissued an “underweight” rating and issued a $21.00 price target (down previously from $22.00) on shares of Oceaneering International in a research note on Tuesday, May 14th. StockNews.com cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a research note on Thursday, April 25th.

Oceaneering International Stock Performance

OII stock opened at $24.03 on Wednesday. The company has a 50 day moving average price of $22.85 and a 200 day moving average price of $22.07. Oceaneering International has a fifty-two week low of $18.56 and a fifty-two week high of $27.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.76 and a quick ratio of 1.45. The stock has a market capitalization of $2.44 billion, a PE ratio of 22.67 and a beta of 2.39.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). The firm had revenue of $599.09 million for 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%. Analysts forecast that Oceaneering International will post 1.4 EPS for the current year.

Institutional Trading of Oceaneering International

Several hedge funds have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. increased its holdings in shares of Oceaneering International by 541.1% in the fourth quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after acquiring an additional 829,000 shares in the last quarter. Norges Bank acquired a new stake in Oceaneering International during the 4th quarter worth approximately $15,161,000. Earnest Partners LLC raised its holdings in Oceaneering International by 9.3% during the 1st quarter. Earnest Partners LLC now owns 5,259,951 shares of the oil and gas company’s stock worth $123,083,000 after buying an additional 445,419 shares during the period. Hawk Ridge Capital Management LP acquired a new position in shares of Oceaneering International in the fourth quarter valued at approximately $8,884,000. Finally, Janus Henderson Group PLC increased its position in shares of Oceaneering International by 46.6% during the first quarter. Janus Henderson Group PLC now owns 1,253,175 shares of the oil and gas company’s stock worth $29,323,000 after acquiring an additional 398,209 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.