Oceaneering International, Inc. (NYSE:OII) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Oceaneering International, with four holds and one buy. The average 12-month price target is $45.00, below the stock’s reported $48.64 price.
• Oceaneering exceeded quarterly expectations, reporting $0.63 in EPS versus the $0.46 consensus estimate and $768.18 million in revenue, up 10% year over year.
• Institutional investors own 93.93% of the company, while insiders have sold 26,901 shares worth approximately $1.28 million over the past 90 days.

Oceaneering International, Inc. (NYSE:OII - Get Free Report) has earned a consensus rating of "Hold" from the five analysts that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $45.00.

A number of equities analysts have recently commented on the company. Barclays lifted their price objective on Oceaneering International from $39.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Weiss Ratings upgraded Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Citigroup upped their price target on Oceaneering International from $40.00 to $52.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th.

Insiders Place Their Bets

In related news, Director M. McEvoy sold 3,000 shares of Oceaneering International stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.92, for a total transaction of $143,760.00. Following the completion of the transaction, the director owned 134,133 shares in the company, valued at approximately $6,427,653.36. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of Oceaneering International stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $48.37, for a total transaction of $483,700.00. Following the sale, the director directly owned 68,916 shares of the company's stock, valued at $3,333,466.92. The trade was a 12.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,901 shares of company stock valued at $1,277,904 over the last ninety days. 1.30% of the stock is owned by insiders.

Institutional Trading of Oceaneering International

Several large investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new stake in shares of Oceaneering International during the 2nd quarter worth $224,000. Tidal Investments LLC raised its position in shares of Oceaneering International by 8.4% in the 2nd quarter. Tidal Investments LLC now owns 30,209 shares of the oil and gas company's stock worth $1,224,000 after acquiring an additional 2,341 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Oceaneering International in the second quarter worth approximately $35,000. NewEdge Advisors LLC lifted its position in shares of Oceaneering International by 24.2% during the 2nd quarter. NewEdge Advisors LLC now owns 32,640 shares of the oil and gas company's stock valued at $1,323,000 after acquiring an additional 6,367 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Oceaneering International by 80.2% during the 2nd quarter. IFP Advisors Inc now owns 5,491 shares of the oil and gas company's stock worth $222,000 after purchasing an additional 2,443 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Oceaneering International Stock Performance

OII stock opened at $48.64 on Thursday. The firm has a market cap of $4.84 billion, a P/E ratio of 13.98 and a beta of 1.17. The stock's 50 day simple moving average is $47.93 and its 200 day simple moving average is $40.88. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. Oceaneering International has a 12-month low of $22.02 and a 12-month high of $54.25.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.17. The company had revenue of $768.18 million during the quarter, compared to analyst estimates of $735.69 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. As a group, equities research analysts predict that Oceaneering International will post 2.1 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.