Oceaneering International (NYSE:OII) Shares Gap Down to $23.30

Shares of Oceaneering International, Inc. (NYSE:OII - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $23.30, but opened at $22.54. Oceaneering International shares last traded at $22.90, with a volume of 102,003 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Oceaneering International from a "buy" rating to a "hold" rating in a research report on Friday, April 26th. Barclays restated an "underweight" rating and set a $21.00 price objective (down from $22.00) on shares of Oceaneering International in a research report on Tuesday. Finally, Benchmark restated a "buy" rating and set a $34.00 price objective on shares of Oceaneering International in a research report on Thursday, April 25th.

Oceaneering International Stock Performance

The stock has a market cap of $2.38 billion, a P/E ratio of 21.98 and a beta of 2.44. The company has a fifty day moving average price of $22.95 and a 200 day moving average price of $21.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.76 and a quick ratio of 1.45.

Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.16). The firm had revenue of $599.09 million for the quarter, compared to the consensus estimate of $613.58 million. Oceaneering International had a net margin of 4.36% and a return on equity of 14.82%. On average, equities analysts expect that Oceaneering International, Inc. will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Oceaneering International by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,578,957 shares of the oil and gas company's stock valued at $294,348,000 after buying an additional 117,503 shares during the last quarter. FMR LLC boosted its position in shares of Oceaneering International by 18.9% during the third quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company's stock valued at $114,134,000 after buying an additional 705,534 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Oceaneering International by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,662,198 shares of the oil and gas company's stock valued at $56,654,000 after buying an additional 34,181 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Oceaneering International by 0.5% during the first quarter. Van ECK Associates Corp now owns 2,076,502 shares of the oil and gas company's stock valued at $48,590,000 after buying an additional 10,575 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Oceaneering International by 1.2% in the fourth quarter. Franklin Resources Inc. now owns 1,696,601 shares of the oil and gas company's stock worth $36,104,000 after purchasing an additional 19,966 shares during the last quarter. Hedge funds and other institutional investors 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.