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

Key Points

• Oceaneering International has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen analysts, indicating a shift in market sentiment.
• Barclays raised the target price for Oceaneering International's stock from $21.00 to $22.00 while maintaining an "equal weight" rating.
• The company's recent earnings report showed a profit of $0.49 per share for the quarter, exceeding expectations and reflecting a year-over-year revenue increase of 4.5%.

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

Separately, Barclays lifted their target price on Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Oceaneering International has an average rating of "Hold" and an average price target of $28.25.

Oceaneering International Price Performance

Shares of OII opened at $21.35 on Friday. Oceaneering International has a 1 year low of $15.46 and a 1 year high of $30.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.00 and a quick ratio of 1.67. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 10.78 and a beta of 1.55. The business has a 50-day moving average of $21.27 and a 200-day moving average of $20.94.

Oceaneering International (NYSE:OII - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.07. The business had revenue of $698.16 million during the quarter, compared to the consensus estimate of $676.81 million. Oceaneering International had a return on equity of 22.09% and a net margin of 7.31%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. As a group, equities research analysts anticipate that Oceaneering International will post 1.78 earnings per share for the current year.

Institutional Investors Weigh In On Oceaneering International

A number of hedge funds have recently added to or reduced their stakes in OII. Brown Advisory Inc. grew its stake in Oceaneering International by 27.6% in the first quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company's stock valued at $142,767,000 after acquiring an additional 1,416,251 shares during the period. Nuveen LLC acquired a new stake in Oceaneering International in the first quarter valued at approximately $11,993,000. Boston Trust Walden Corp acquired a new stake in Oceaneering International in the second quarter valued at approximately $10,901,000. Cubist Systematic Strategies LLC acquired a new stake in Oceaneering International in the fourth quarter valued at approximately $8,490,000. Finally, American Century Companies Inc. grew its stake in Oceaneering International by 9.6% in the first quarter. American Century Companies Inc. now owns 3,113,578 shares of the oil and gas company's stock valued at $67,907,000 after acquiring an additional 271,868 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

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.

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