Oceaneering International (NYSE:OII) Upgraded at Barclays

Barclays upgraded shares of Oceaneering International (NYSE:OII) from an underweight rating to an equal weight rating in a research report report published on Wednesday morning, Marketbeat reports. They currently have $26.00 target price on the oil and gas company’s stock, up from their previous target price of $22.00.

Separately, Benchmark restated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th.

Oceaneering International Trading Up 1.3 %

Oceaneering International stock opened at $24.55 on Wednesday. Oceaneering International has a 52 week low of $18.95 and a 52 week high of $30.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. The firm has a market capitalization of $2.48 billion, a PE ratio of 18.60 and a beta of 2.39. The business’s 50-day simple moving average is $26.78 and its 200-day simple moving average is $25.57.

Oceaneering International (NYSE:OII) last issued its quarterly 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). Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The business had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts forecast that Oceaneering International will post 1.4 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Earnest Partners LLC increased its holdings in Oceaneering International by 21.0% in the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock valued at $150,601,000 after buying an additional 1,105,263 shares during the period. State Street Corp boosted its position in shares of 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 valued at $129,847,000 after acquiring an additional 107,394 shares in the last quarter. FMR LLC increased its stake in Oceaneering International by 1.3% in the third 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 during the period. Dimensional Fund Advisors LP raised its position in Oceaneering International by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock worth $64,003,000 after purchasing an additional 43,941 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Oceaneering International by 1.2% during 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 purchasing an additional 26,328 shares during the period. 93.93% of the stock is currently 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.