Oceaneering International (NYSE:OII) Stock Price Expected to Rise, TD Cowen Analyst Says

Oceaneering International (NYSE:OII) had its target price raised by TD Cowen from $26.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s target price would suggest a potential downside of 0.30% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Benchmark reissued a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research note on Friday, October 25th. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $22.00 to $26.00 in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Oceaneering International currently has a consensus rating of “Hold” and a consensus price target of $28.75.

Oceaneering International Price Performance

Shares of OII stock opened at $27.08 on Wednesday. The company has a market capitalization of $2.74 billion, a P/E ratio of 20.52 and a beta of 2.41. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. Oceaneering International has a 12 month low of $18.95 and a 12 month high of $30.98. The stock has a 50 day moving average of $27.19 and a two-hundred day moving average of $26.06.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). The firm had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. As a group, equities analysts expect that Oceaneering International will post 1.4 EPS for the current year.

Institutional Trading of Oceaneering International

Large investors have recently added to or reduced their stakes in the company. Earnest Partners LLC grew its holdings in shares of Oceaneering International by 21.0% during the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after purchasing an additional 1,105,263 shares during the last quarter. State Street Corp grew its holdings in Oceaneering International by 2.1% during the 3rd quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock worth $129,847,000 after acquiring an additional 107,394 shares during the last quarter. FMR LLC increased its position in Oceaneering International by 1.3% in the 3rd quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock valued at $72,023,000 after acquiring an additional 36,593 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Oceaneering International by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock valued at $64,003,000 after acquiring an additional 43,941 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Oceaneering International by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,279,039 shares of the oil and gas company’s stock worth $56,691,000 after acquiring an additional 26,328 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

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.