Oceaneering International's (OII) Hold (C+) Rating Reiterated at Weiss Ratings

Key Points

• Oceaneering International's stock rating has been reaffirmed as "hold (C+)" by Weiss Ratings, with a current consensus rating of "Hold" and an average price target of $27.00.
• Barclays has increased the target price of Oceaneering International from $21.00 to $22.00, while Citigroup raised it from $20.00 to $25.00, indicating a mixed analyst sentiment on the stock.
• The company's recent earnings report showed $0.49 earnings per share, surpassing expectations, and a revenue increase of 4.5% year-over-year, reflecting positive financial performance.

Oceaneering International (NYSE:OII - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the stock. Barclays boosted their target price on shares of Oceaneering International from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Citigroup boosted their target price on shares of Oceaneering International from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $27.00.

Oceaneering International Price Performance

NYSE OII traded up $0.07 during trading hours on Wednesday, hitting $24.28. 16,572 shares of the company's stock traded hands, compared to its average volume of 821,773. Oceaneering International has a 52-week low of $15.46 and a 52-week high of $30.98. The company has a market capitalization of $2.43 billion, a PE ratio of 12.26 and a beta of 1.50. 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 firm's 50-day moving average is $23.69 and its 200-day moving average is $21.24.

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

Insider Buying and Selling

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total value of $361,502.40. Following the completion of the transaction, the chief financial officer owned 155,259 shares of the company's stock, valued at $3,782,109.24. This trade represents a 8.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is 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 the business. Brown Advisory Inc. boosted its position in Oceaneering International by 12.2% in the 2nd quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company's stock valued at $152,202,000 after buying an additional 799,718 shares during the period. American Century Companies Inc. grew its position in Oceaneering International by 8.2% during the 2nd quarter. American Century Companies Inc. now owns 3,370,206 shares of the oil and gas company's stock worth $69,831,000 after purchasing an additional 256,628 shares during the last quarter. Greenhouse Funds LLLP grew its position in Oceaneering International by 9.9% during the 2nd quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company's stock worth $51,630,000 after purchasing an additional 223,724 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Oceaneering International by 916.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company's stock worth $28,219,000 after purchasing an additional 1,227,950 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Oceaneering International by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,331,297 shares of the oil and gas company's stock valued at $29,036,000 after acquiring an additional 32,639 shares in the last quarter. 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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