TD Cowen Forecasts Strong Price Appreciation for Oceaneering International (NYSE:OII) Stock

Key Points

• TD Cowen raised its price target on Oceaneering from $34 to $36 but maintained a "hold" rating, implying almost no near‑term upside (~0.05% from the prior close), while the analyst consensus remains a "Hold" with an average target of $34.33.
• Quarterly results showed EPS of $0.30 (missing estimates by $0.05) while revenue of $692.4M beat expectations and rose 2.7% year‑over‑year; the stock opened near $35.98 (down ~4.2%) and trades at a P/E of about 10.7.
• Insider activity includes sales of roughly 111,689 shares (~$4.2M) over the last quarter, and institutional investors control about 93.9% of the company's stock.

Oceaneering International (NYSE:OII - Get Free Report) had its target price hoisted by research analysts at TD Cowen from $34.00 to $36.00 in a report issued on Thursday. The firm presently has a "hold" rating on the oil and gas company's stock. TD Cowen's target price points to a potential upside of 0.05% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on OII. Barclays lifted their price target on Oceaneering International from $23.00 to $32.00 and gave the company an "equal weight" rating in a report on Monday, February 23rd. Weiss Ratings upgraded Oceaneering International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Citigroup boosted their price target on Oceaneering International from $25.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 10th. Zacks Research cut Oceaneering International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. Finally, Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, March 1st. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $34.33.

Oceaneering International Stock Down 4.2%

Oceaneering International stock opened at $35.98 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08. Oceaneering International has a one year low of $17.53 and a one year high of $40.12. The company has a 50-day simple moving average of $36.10 and a 200-day simple moving average of $29.60. The firm has a market capitalization of $3.59 billion, a P/E ratio of 10.68 and a beta of 1.18.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share. As a group, equities analysts expect that Oceaneering International will post 1.93 earnings per share for the current year.

Insider Buying and Selling

In other Oceaneering International news, COO Benjamin Laura sold 5,106 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $36.88, for a total value of $188,309.28. Following the completion of the sale, the chief operating officer directly owned 40,805 shares of the company's stock, valued at $1,504,888.40. The trade was a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Holly Kriendler sold 5,798 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $37.31, for a total transaction of $216,323.38. Following the completion of the sale, the senior vice president owned 24,702 shares of the company's stock, valued at $921,631.62. The trade was a 19.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 111,689 shares of company stock worth $4,204,360. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Oceaneering International

Large investors have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new stake in shares of Oceaneering International during the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Oceaneering International in the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its stake in Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 1,111 shares in the last quarter. Quarry LP acquired a new stake in Oceaneering International in the third quarter worth $30,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of Oceaneering International by 255.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.