Barclays Issues Positive Forecast for Oceaneering International (NYSE:OII) Stock Price

Key Points

• Barclays has increased its price target for Oceaneering International's stock from $21.00 to $22.00, indicating a potential upside of 5.21%.
• Wall Street Zen has downgraded the stock from a "buy" to a "hold" rating, while analysts maintain an average target price of $28.25.
• Oceaneering International reported a Q2 EPS of $0.49, surpassing estimates and showing a 4.5% year-over-year revenue increase.

Oceaneering International (NYSE:OII - Get Free Report) had its price objective lifted by analysts at Barclays from $21.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the oil and gas company's stock. Barclays's price target would suggest a potential upside of 5.21% from the stock's previous close.

Separately, Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $28.25.

Oceaneering International Trading Down 3.6%

Shares of OII traded down $0.79 during midday trading on Friday, hitting $20.91. 53,093 shares of the stock were exchanged, compared to its average volume of 881,845. Oceaneering International has a 52-week low of $15.46 and a 52-week high of $30.98. The stock has a fifty day simple moving average of $20.97 and a 200 day simple moving average of $21.19. The firm has a market cap of $2.10 billion, a P/E ratio of 10.62 and a beta of 1.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 2.00.

Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07. Oceaneering International had a return on equity of 22.09% and a net margin of 7.31%. The business had revenue of $698.16 million during the quarter, compared to analyst estimates of $676.81 million. During the same period last year, the business posted $0.28 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Oceaneering International will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

Several institutional investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D increased its position in Oceaneering International by 13.3% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 99,181 shares of the oil and gas company's stock worth $2,055,000 after purchasing an additional 11,607 shares during the period. AlphaQuest LLC boosted its stake in shares of Oceaneering International by 29.0% during the 2nd quarter. AlphaQuest LLC now owns 84,475 shares of the oil and gas company's stock worth $1,750,000 after acquiring an additional 19,009 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Oceaneering International by 54.3% during the 2nd quarter. Bleakley Financial Group LLC now owns 15,947 shares of the oil and gas company's stock worth $330,000 after acquiring an additional 5,614 shares in the last quarter. Boston Trust Walden Corp purchased a new stake in shares of Oceaneering International during the 2nd quarter worth approximately $10,901,000. Finally, CWM LLC boosted its stake in shares of Oceaneering International by 276.4% during the 2nd quarter. CWM LLC now owns 13,680 shares of the oil and gas company's stock worth $283,000 after acquiring an additional 10,046 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

About Oceaneering International

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.

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