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

Key Points

• Consensus "Hold": Five analysts give Oceaneering a consensus rating of Hold (four holds, one buy) with an average 1‑year price target of $34.33, while several firms (Barclays, Citigroup, TD Cowen) raised targets, Weiss upgraded to buy and Wall Street Zen cut to hold.
• Recent results and stock metrics: the company reported EPS of $0.30 (missed $0.35) but revenue of $692.4M beat estimates; the shares trade around $36.59, market cap ~$3.65B and a P/E near 10.9.
• Insider and institutional activity: insiders sold 111,689 shares (~$4.2M) over the last 90 days including notable sales by a director and the COO, insiders now own 1.3% while institutional investors hold about 93.9% of the stock.

Oceaneering International, Inc. (NYSE:OII - Get Free Report) has been assigned a consensus rating of "Hold" from the five brokerages that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $34.3333.

OII has been the subject of several research reports. Weiss Ratings raised Oceaneering International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Barclays raised their target price on Oceaneering International from $23.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Monday, February 23rd. Citigroup raised their target price on Oceaneering International from $25.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 10th. Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. Finally, TD Cowen raised their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a "hold" rating in a research report on Thursday, April 30th.

Oceaneering International Trading Down 1.3%

Shares of Oceaneering International stock opened at $36.59 on Friday. The company's fifty day simple moving average is $36.14 and its 200-day simple moving average is $30.06. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 10.86 and a beta of 1.17. The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44. Oceaneering International has a 1 year low of $18.45 and a 1 year high of $40.12.

Oceaneering International (NYSE:OII - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.43 earnings per share. As a group, sell-side analysts expect that Oceaneering International will post 1.89 EPS for the current year.

Insider Transactions at Oceaneering International

In related news, Director Karen H. Beachy sold 9,800 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $366,618.00. Following the completion of the transaction, the director directly owned 22,816 shares of the company's stock, valued at $853,546.56. This trade represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin Laura sold 33,176 shares of Oceaneering International stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.51, for a total value of $1,244,431.76. Following the transaction, the chief operating officer directly owned 45,911 shares of the company's stock, valued at approximately $1,722,121.61. The trade was a 41.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 111,689 shares of company stock valued at $4,204,360 over the last 90 days. Corporate insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC lifted its holdings in shares of Oceaneering International by 2.8% during the fourth quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company's stock valued at $299,000 after acquiring an additional 335 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Oceaneering International by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 54,458 shares of the oil and gas company's stock valued at $1,307,000 after acquiring an additional 380 shares during the period. CSM Advisors LLC lifted its holdings in shares of Oceaneering International by 3.1% during the third quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company's stock valued at $359,000 after acquiring an additional 428 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Oceaneering International by 15.7% during the third quarter. Smartleaf Asset Management LLC now owns 3,464 shares of the oil and gas company's stock valued at $87,000 after acquiring an additional 469 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Oceaneering International by 2.9% during the fourth quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company's stock valued at $470,000 after acquiring an additional 545 shares during the period. 93.93% of the stock is owned by 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.

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