Oceaneering International (NYSE:OII) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Oceaneering International from “Buy” to “Hold,” aligning with the broader analyst consensus. Four analysts rate the stock Hold and one rates it Buy, with a consensus price target of $41.
• OII shares opened at $48.00, near the upper end of their 12-month range of $21.03 to $53.98. The company has a $4.78 billion market capitalization and a price-to-earnings ratio of 13.79.
• Company insiders sold $985,554 worth of stock over the past 90 days, while institutional investors own a substantial 93.93% of outstanding shares.

Oceaneering International (NYSE:OII - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other equities research analysts have also issued reports on OII. TD Cowen lifted their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. Citigroup increased their price objective on Oceaneering International from $35.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, June 18th. Weiss Ratings raised shares of Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Finally, Barclays lifted their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.00.

Oceaneering International Stock Performance

Shares of Oceaneering International stock opened at $48.00 on Friday. Oceaneering International has a 12 month low of $21.03 and a 12 month high of $53.98. The stock has a market cap of $4.78 billion, a PE ratio of 13.79 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. The business has a fifty day simple moving average of $41.86 and a 200-day simple moving average of $37.55.

Insider Buying and Selling

In other news, SVP Earl Childress sold 12,701 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $46.71, for a total transaction of $593,263.71. Following the completion of the sale, the senior vice president owned 22,876 shares in the company, valued at approximately $1,068,537.96. This represents a 35.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher J. Dyer sold 1,200 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the sale, the senior vice president owned 14,702 shares of the company's stock, valued at approximately $700,550.30. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,901 shares of company stock worth $985,554 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OII. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oceaneering International in the third quarter worth $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company's stock worth $30,000 after buying an additional 1,111 shares during the period. Quarry LP acquired a new position in Oceaneering International in the 3rd quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Oceaneering International in the 1st quarter valued at $53,000. Finally, Hantz Financial Services Inc. raised its holdings in Oceaneering International by 248.8% in the 4th quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company's stock worth $55,000 after acquiring an additional 1,627 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

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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