Oceaneering International, Inc. (NYSE:OII) Stock Has Consensus Target Price of $41.00

Key Points

• Oceaneering International has a “Moderate Buy” consensus rating from five analysts, with an average 12-month price target of $41.00. Ratings include three holds, one buy and one strong buy, while Barclays and Citigroup recently reduced their price targets.
• The company reported quarterly EPS of $0.50, missing estimates of $0.59, but revenue of $784.55 million exceeded forecasts and increased 5.6% year over year. Analysts expect full-year EPS of approximately $2.10.
• OII opened at $41.56, near the consensus target, with a market capitalization of about $4.14 billion; institutional investors own approximately 93.93% of outstanding shares.

Oceaneering International, Inc. (NYSE:OII - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $41.00.

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Oceaneering International from a "hold" rating to a "buy" rating in a report on Saturday, October 17th. Weiss Ratings lowered shares of Oceaneering International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. Zacks Research upgraded Oceaneering International from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. Barclays lowered their price objective on Oceaneering International from $47.00 to $42.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, Citigroup cut their target price on Oceaneering International from $52.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday.

Oceaneering International Stock Performance

NYSE OII opened at $41.56 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.97 and a current ratio of 2.20. The stock's fifty day moving average is $46.41 and its two-hundred day moving average is $40.16. The firm has a market capitalization of $4.14 billion, a P/E ratio of 12.63 and a beta of 1.25. Oceaneering International has a fifty-two week low of $22.13 and a fifty-two week high of $54.25.

Oceaneering International (NYSE:OII - Get Free Report) last issued its earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.09). The company had revenue of $784.55 million during the quarter, compared to analyst estimates of $775.93 million. Oceaneering International had a return on equity of 16.87% and a net margin of 11.37%. The firm's revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.55 earnings per share. On average, research analysts anticipate that Oceaneering International will post 2.10 earnings per share for the current year.

Insider Buying and Selling at Oceaneering International

In related news, CEO Roderick A. Larson sold 6,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $44.16, for a total transaction of $264,960.00. Following the completion of the sale, the chief executive officer directly owned 391,279 shares of the company's stock, valued at approximately $17,278,880.64. This trade represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $48.37, for a total transaction of $483,700.00. Following the completion of the sale, the director owned 68,916 shares in the company, valued at approximately $3,333,466.92. This trade represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its stake in Oceaneering International by 63.2% during the second quarter. Allworth Financial LP now owns 1,046 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 405 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Oceaneering International during the third quarter worth $26,000. Choreo LLC boosted its position in shares of Oceaneering International by 5.8% during the third quarter. Choreo LLC now owns 11,509 shares of the oil and gas company's stock worth $502,000 after buying an additional 630 shares during the period. Carlson Capital L.P. grew its stake in shares of Oceaneering International by 2.5% in the first quarter. Carlson Capital L.P. now owns 32,800 shares of the oil and gas company's stock valued at $1,163,000 after buying an additional 800 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Oceaneering International in the second quarter valued at $35,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

About Oceaneering International

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.

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