Oceaneering International (NYSE:OII) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Oceaneering International from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $45.
• Oceaneering reported quarterly EPS of $0.63, beating estimates of $0.46, while revenue reached $768.18 million and increased 10% year over year.
• Institutional investors own 93.93% of the company, although insiders sold 32,901 shares worth approximately $1.54 million over the past three months.

Oceaneering International (NYSE:OII - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also commented on the stock. Citigroup raised their price target on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Weiss Ratings lowered shares of Oceaneering International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday. Zacks Research upgraded shares of Oceaneering International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Finally, Barclays upped their price objective on Oceaneering International from $39.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $45.00.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $43.78 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The stock's fifty day moving average price is $48.29 and its two-hundred day moving average price is $42.74. Oceaneering International has a one year low of $22.13 and a one year high of $54.25. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 12.58 and a beta of 1.25.

Oceaneering International (NYSE:OII - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.17. The firm had revenue of $768.18 million for the quarter, compared to analysts' expectations of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%. The company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. On average, equities analysts forecast that Oceaneering International will post 2.10 EPS for the current year.

Insiders Place Their Bets

In related news, Director M. McEvoy sold 3,000 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.92, for a total value of $143,760.00. Following the transaction, the director owned 134,133 shares of the company's stock, valued at approximately $6,427,653.36. This trade represents a 2.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Roderick A. Larson sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $44.16, for a total value of $264,960.00. Following the sale, the chief executive officer directly owned 391,279 shares of the company's stock, valued at $17,278,880.64. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,901 shares of company stock worth $1,542,864 over the last three months. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Oceaneering International

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Oceaneering International during the second quarter valued at about $664,659,000. Morgan Stanley Institutional Investment Advisors LLC purchased a new stake in shares of Oceaneering International during the second quarter valued at approximately $124,235,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Oceaneering International during the 2nd quarter valued at $92,100,000. Reinhart Partners LLC. bought a new stake in Oceaneering International in the second quarter worth about $66,795,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Oceaneering International in the second quarter valued at $45,658,000. 93.93% of the stock is currently owned by institutional investors.

About Oceaneering International

Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.

Oceaneering's subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.

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