Wall Street Zen Upgrades Oceaneering International (NYSE:OII) to Buy

Key Points

• Oceaneering International has been upgraded by Wall Street Zen from a "hold" rating to a "buy" rating, signaling increased investor confidence.
• Barclays has raised its price target for Oceaneering International from $21.00 to $22.00, while the current consensus target price stands at $28.25.
• The company reported a quarterly earnings of $0.49 per share, surpassing analysts' expectations of $0.42, with a revenue increase of 4.5% year-over-year.

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

Separately, Barclays lifted their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Oceaneering International currently has an average rating of "Hold" and a consensus price target of $28.25.

Oceaneering International Stock Performance

Shares of NYSE:OII traded down $0.22 on Friday, reaching $21.88. 413,453 shares of the company's stock were exchanged, compared to its average volume of 883,484. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 11.06 and a beta of 1.55. Oceaneering International has a fifty-two week low of $15.46 and a fifty-two week high of $30.98. The business's 50-day moving average is $21.12 and its two-hundred day moving average is $21.05. The company has a quick ratio of 1.67, a current ratio of 2.00 and a debt-to-equity ratio of 0.57.

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 company had revenue of $698.16 million for the quarter, compared to analysts' expectations of $676.81 million. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, equities research analysts forecast that Oceaneering International will post 1.78 EPS for the current year.

Institutional Trading of Oceaneering International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC grew its position in shares of Oceaneering International by 0.8% during the 4th quarter. LPL Financial LLC now owns 56,253 shares of the oil and gas company's stock worth $1,467,000 after buying an additional 451 shares during the period. Summit Investment Advisors Inc. boosted its position in Oceaneering International by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company's stock worth $276,000 after acquiring an additional 584 shares during the last quarter. GAMMA Investing LLC boosted its position in Oceaneering International by 29.7% during the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock worth $68,000 after acquiring an additional 711 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in Oceaneering International by 9.1% in the 2nd quarter. Central Pacific Bank Trust Division now owns 10,070 shares of the oil and gas company's stock valued at $209,000 after acquiring an additional 840 shares during the period. Finally, Foundry Partners LLC raised its stake in Oceaneering International by 8.5% in the 1st quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company's stock valued at $304,000 after acquiring an additional 1,096 shares during the period. 93.93% of the stock is owned by institutional investors.

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.