Oceaneering International (NYSE:OII) Given New $22.00 Price Target at Barclays

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 target price hoisted by investment analysts at Barclays from $21.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the oil and gas company's stock. Barclays's price objective would indicate a potential downside of 0.52% from the stock's previous close.

Separately, Wall Street Zen downgraded Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.25.

Oceaneering International Price Performance

OII traded up $0.34 during midday trading on Friday, hitting $22.11. The company had a trading volume of 439,382 shares, compared to its average volume of 884,588. The company has a market capitalization of $2.22 billion, a PE ratio of 11.17 and a beta of 1.55. 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 has a twelve month low of $15.46 and a twelve month high of $30.98. The firm's 50-day simple moving average is $21.07 and its 200-day simple moving average is $21.04.

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

Hedge Funds Weigh In On Oceaneering International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Advisory Inc. grew its position in Oceaneering International by 27.6% during the first quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company's stock worth $142,767,000 after buying an additional 1,416,251 shares in the last quarter. FIL Ltd bought a new stake in shares of Oceaneering International in the 4th quarter valued at about $18,864,000. Nuveen LLC acquired a new position in shares of Oceaneering International during the 1st quarter worth approximately $11,993,000. Boston Trust Walden Corp bought a new position in Oceaneering International in the 2nd quarter valued at approximately $10,901,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Oceaneering International during the fourth quarter valued at $8,490,000. 93.93% of the stock is owned by institutional investors.

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.