Oceaneering International, Inc. (NYSE:OII) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Four of five brokerages rate Oceaneering International neutral, while one rates it a buy. The average 12-month price target is $45, below the stock’s reported $52.08 opening price.
• Shares have rallied sharply: OII trades near its 52-week high of $53.98, compared with a low of $22.02, and its 50-day and 200-day moving averages are $43.16 and $38.36, respectively.
• Insiders have been selling: Company insiders sold 31,901 shares worth approximately $1.47 million over the past three months, while institutional investors control 93.93% of the company’s stock.

Shares of Oceaneering International, Inc. (NYSE:OII - Get Free Report) have received an average recommendation of "Hold" from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $45.00.

Several research analysts recently weighed in on OII shares. Weiss Ratings upgraded shares of Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. TD Cowen boosted their price objective on Oceaneering International from $34.00 to $36.00 and gave the stock a "hold" rating in a research note on Thursday, April 30th. Barclays increased their target price on Oceaneering International from $39.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Finally, Citigroup raised their target price on Oceaneering International from $40.00 to $52.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th.

Oceaneering International Stock Performance

OII opened at $52.08 on Friday. The firm's fifty day simple moving average is $43.16 and its two-hundred day simple moving average is $38.36. Oceaneering International has a 52-week low of $22.02 and a 52-week high of $53.98. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 14.97 and a beta of 1.15. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42.

Insider Activity

In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 10,000 shares of Oceaneering International stock in a transaction on Friday, August 7th. The shares were sold at an average price of $48.37, for a total transaction of $483,700.00. Following the sale, the director 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. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Earl Childress sold 12,701 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $46.71, for a total transaction of $593,263.71. Following the sale, the senior vice president directly owned 22,876 shares of the company's stock, valued at $1,068,537.96. The trade was a 35.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,901 shares of company stock valued at $1,469,254 in the last three months. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Oceaneering International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company's stock valued at $1,312,000 after acquiring an additional 2,633 shares in the last quarter. Empowered Funds LLC lifted its stake in Oceaneering International by 1.9% in the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company's stock worth $2,634,000 after purchasing an additional 2,310 shares in the last quarter. Strs Ohio purchased a new position in Oceaneering International in the 1st quarter worth approximately $168,000. Norges Bank purchased a new position in Oceaneering International in the 2nd quarter worth approximately $1,485,000. Finally, Invesco Ltd. boosted its holdings in shares of Oceaneering International by 8.0% during the 2nd quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company's stock worth $13,472,000 after purchasing an additional 48,382 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source