Oceaneering International (NYSE:OII) Stock Price Target Lowered at Citigroup

Key Points

• Citigroup lowered Oceaneering International’s price target from $52 to $45 while maintaining a “neutral” rating, implying approximately 8.3% upside from the stock’s $41.56 price.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $41, with recent upgrades from Zacks Research and Wall Street Zen alongside a Barclays target cut.
• Oceaneering’s latest quarterly results exceeded revenue expectations but missed on earnings, posting $0.50 EPS versus the $0.59 consensus estimate; revenue rose 5.6% year over year to $784.55 million.

Oceaneering International (NYSE:OII - Get Free Report) had its price objective reduced by equities researchers at Citigroup from $52.00 to $45.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the oil and gas company's stock. Citigroup's price objective suggests a potential upside of 8.28% from the company's current price.

Several other analysts also recently commented on OII. Wall Street Zen upgraded shares of Oceaneering International from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. Barclays cut their price target on Oceaneering International from $47.00 to $42.00 and set an "equal weight" rating for the company in a research note on Monday. Weiss Ratings downgraded Oceaneering International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. Finally, Zacks Research upgraded Oceaneering International from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Oceaneering International Stock Performance

Oceaneering International stock traded down $0.05 during trading on Thursday, reaching $41.56. The company had a trading volume of 929,371 shares, compared to its average volume of 1,114,672. Oceaneering International has a 52 week low of $22.13 and a 52 week high of $54.25. The firm's 50-day simple moving average is $46.63 and its 200 day simple moving average is $40.08. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 12.63 and a beta of 1.25. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.40.

Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09). Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. The company had revenue of $784.55 million for the quarter, compared to the consensus estimate of $775.93 million. During the same period in the prior year, the firm posted $0.55 EPS. The business's revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts forecast that Oceaneering International will post 2.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 10,000 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $48.37, for a total value of $483,700.00. Following the sale, the director owned 68,916 shares in the company, valued at $3,333,466.92. The trade was a 12.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Roderick A. Larson sold 6,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $44.16, for a total transaction of $264,960.00. Following the transaction, the chief executive officer directly owned 391,279 shares of the company's stock, valued at $17,278,880.64. This trade represents a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oceaneering International

Several large investors have recently made changes to their positions in OII. Allworth Financial LP raised its holdings in shares of Oceaneering International by 63.2% in the second quarter. Allworth Financial LP now owns 1,046 shares of the oil and gas company's stock worth $42,000 after buying an additional 405 shares during the period. Root Financial Partners LLC bought a new position in Oceaneering International in the 3rd quarter valued at $26,000. Choreo LLC grew its position in Oceaneering International by 5.8% in the 3rd quarter. Choreo LLC now owns 11,509 shares of the oil and gas company's stock valued at $502,000 after acquiring an additional 630 shares during the last quarter. Carlson Capital L.P. increased its stake in Oceaneering International by 2.5% in the first quarter. Carlson Capital L.P. now owns 32,800 shares of the oil and gas company's stock worth $1,163,000 after purchasing an additional 800 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Oceaneering International in the second quarter worth $35,000. 93.93% of the stock is owned by institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.

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