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

Key Points

• Oceaneering International, Inc. has received an average rating of "Hold" from five brokerages, with four recommending a hold and one recommending a buy.
• The average price target for the stock among analysts is $28.25, with recent upgrades including Wall Street Zen raising its rating from "hold" to "buy."
• In its latest quarterly earnings, Oceaneering reported $0.49 earnings per share, exceeding analysts' expectations of $0.42 and marking a year-over-year revenue increase of 4.5% to $698.16 million.

Shares of Oceaneering International, Inc. (NYSE:OII - Get Free Report) have been assigned an average recommendation of "Hold" from the five brokerages that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $28.25.

Several research analysts have recently weighed in on OII shares. Wall Street Zen raised shares of Oceaneering International from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays increased their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently made changes to their positions in OII. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Oceaneering International by 62.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,675 shares of the oil and gas company's stock valued at $604,000 after purchasing an additional 10,628 shares during the period. Principal Financial Group Inc. grew its position in shares of Oceaneering International by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 539,234 shares of the oil and gas company's stock worth $11,761,000 after buying an additional 12,085 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Oceaneering International in the 1st quarter worth $546,000. Envestnet Asset Management Inc. lifted its stake in Oceaneering International by 1.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 326,978 shares of the oil and gas company's stock valued at $7,131,000 after acquiring an additional 4,950 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in Oceaneering International by 21.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 69,897 shares of the oil and gas company's stock valued at $1,524,000 after acquiring an additional 12,199 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Oceaneering International Price Performance

OII stock traded down $0.19 during trading on Wednesday, reaching $21.91. 814,865 shares of the company were exchanged, compared to its average volume of 863,107. The stock's 50 day moving average price is $21.12 and its 200 day moving average price is $21.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 2.00. The company has a market cap of $2.20 billion, a P/E ratio of 11.07 and a beta of 1.55. Oceaneering International has a 52-week low of $15.46 and a 52-week high of $30.98.

Oceaneering International (NYSE:OII - Get Free Report) last released 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 business had revenue of $698.16 million during the quarter, compared to analyst estimates of $676.81 million. During the same period last year, the business earned $0.28 EPS. The business's revenue was up 4.5% on a year-over-year basis. As a group, analysts predict that Oceaneering International will post 1.78 earnings per share for the current fiscal year.

Oceaneering International Company Profile

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.