Oceaneering International (NYSE:OII) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Oceaneering International has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased positive sentiment from analysts.
• Barclays raised its price objective for the stock from $21 to $22, while Citigroup increased its target from $20 to $25, reflecting optimistic projections for the company's performance.
• In its latest earnings report, Oceaneering International reported $0.55 EPS, exceeding expectations, with a revenue increase of 9.3% year-over-year to $742.9 million.

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

A number of other equities research analysts have also commented on the stock. Barclays increased their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Weiss Ratings reissued a "hold (c+)" rating on shares of Oceaneering International in a research note on Wednesday, October 8th. Finally, Citigroup increased their price target on shares of Oceaneering International from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, September 9th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $24.67.

Oceaneering International Stock Down 0.6%

NYSE OII opened at $23.67 on Friday. The firm has a market cap of $2.37 billion, a PE ratio of 10.33 and a beta of 1.50. Oceaneering International has a one year low of $15.46 and a one year high of $30.98. The stock's 50 day simple moving average is $24.02 and its 200 day simple moving average is $21.46. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.97 and a quick ratio of 1.67.

Oceaneering International (NYSE:OII - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.42 by $0.13. The company had revenue of $742.90 million for the quarter, compared to analysts' expectations of $709.48 million. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.The business's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, sell-side analysts forecast that Oceaneering International will post 1.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alan R. Curtis sold 14,840 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total value of $361,502.40. Following the transaction, the chief financial officer owned 155,259 shares of the company's stock, valued at approximately $3,782,109.24. This trade represents a 8.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Oceaneering International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Profund Advisors LLC boosted its stake in Oceaneering International by 3.4% in the second quarter. Profund Advisors LLC now owns 17,032 shares of the oil and gas company's stock valued at $353,000 after acquiring an additional 559 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Oceaneering International by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 93,342 shares of the oil and gas company's stock worth $1,934,000 after purchasing an additional 634 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of 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 worth $68,000 after purchasing an additional 711 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Oceaneering International by 33.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,995 shares of the oil and gas company's stock worth $62,000 after purchasing an additional 747 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in shares of 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 worth $209,000 after purchasing an additional 840 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

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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