Barclays Increases Oceaneering International (NYSE:OII) Price Target to $47.00

Key Points

• Barclays raised Oceaneering International’s price target from $39 to $47 while maintaining an “equal weight” rating, implying about 11.3% downside from the stock’s $52.98 opening price.
• Analyst sentiment remains cautious: OII has an average “Hold” rating and a consensus price target of $41, despite one recent upgrade to “Buy.”
• Institutional investors own 93.93% of the company, while CEO Roderick Larson recently sold 5,000 shares worth approximately $191,350.

Oceaneering International (NYSE:OII - Get Free Report) had its target price increased by analysts at Barclays from $39.00 to $47.00 in a report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the oil and gas company's stock. Barclays's price target points to a potential downside of 11.29% from the stock's current price.

OII has been the subject of several other research reports. TD Cowen raised their price target on Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a report on Thursday, April 30th. Citigroup boosted their price target on Oceaneering International from $35.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, June 18th. Wall Street Zen upgraded shares of Oceaneering International from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Oceaneering International in a research note on Friday, May 22nd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.00.

Oceaneering International Stock Performance

Shares of OII stock opened at $52.98 on Monday. The stock has a market cap of $5.28 billion, a P/E ratio of 15.22 and a beta of 1.15. The company has a fifty day moving average price of $39.81 and a two-hundred day moving average price of $36.07. Oceaneering International has a one year low of $20.79 and a one year high of $53.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90.

Insider Activity

In related news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares of the company's stock, valued at $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently modified their holdings of OII. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Oceaneering International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company's stock worth $1,312,000 after buying an additional 2,633 shares during the last quarter. Empowered Funds LLC grew its position in Oceaneering International by 1.9% in the first quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company's stock valued at $2,634,000 after acquiring an additional 2,310 shares during the last quarter. Strs Ohio bought a new position in Oceaneering International in the first quarter valued at about $168,000. Norges Bank acquired a new position in Oceaneering International during the second quarter worth about $1,485,000. Finally, Invesco Ltd. raised its stake in Oceaneering International by 8.0% during the second quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company's stock worth $13,472,000 after acquiring an additional 48,382 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

About Oceaneering International

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.

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