Oceaneering International (NYSE:OII) Shares Gap Down - What's Next?

Oceaneering International, Inc. (NYSE:OII - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $20.26, but opened at $19.85. Oceaneering International shares last traded at $20.46, with a volume of 53,465 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OII. Wall Street Zen raised shares of Oceaneering International from a "hold" rating to a "buy" rating in a report on Sunday, June 1st. Pickering Energy Partners raised shares of Oceaneering International from an "underperform" rating to a "neutral" rating in a report on Wednesday, April 2nd. Finally, Barclays reduced their target price on shares of Oceaneering International from $22.00 to $21.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Oceaneering International has an average rating of "Hold" and a consensus target price of $28.00.

Oceaneering International Price Performance

The stock has a 50-day moving average price of $18.57 and a 200 day moving average price of $22.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 14.23 and a beta of 1.48.

Oceaneering International (NYSE:OII - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.07. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. The business had revenue of $674.52 million for the quarter, compared to analysts' expectations of $651.96 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business's revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Oceaneering International by 29.7% in the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock valued at $68,000 after purchasing an additional 711 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Oceaneering International by 191.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company's stock worth $85,000 after buying an additional 2,131 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Oceaneering International by 354.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company's stock worth $104,000 after buying an additional 3,157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Oceaneering International during the 4th quarter worth approximately $119,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Oceaneering International during the 4th quarter worth approximately $156,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

About Oceaneering International

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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