Oceaneering International (NYSE:OII) Raised to Equal Weight at Barclays

Oceaneering International (NYSE:OII) was upgraded by equities researchers at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a $26.00 price target on the oil and gas company’s stock, up from their prior price target of $22.00. Barclays‘s target price suggests a potential upside of 7.26% from the stock’s previous close.

Separately, Benchmark reissued a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a research note on Friday, October 25th.

Oceaneering International Trading Down 1.6 %

Shares of OII stock opened at $24.24 on Wednesday. Oceaneering International has a 1-year low of $18.95 and a 1-year high of $30.98. The firm has a market cap of $2.45 billion, a PE ratio of 18.36 and a beta of 2.39. The company has a 50-day moving average of $26.78 and a two-hundred day moving average of $25.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.08). The company had revenue of $679.81 million during the quarter, compared to analyst estimates of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. On average, analysts predict that Oceaneering International will post 1.4 EPS for the current year.

Institutional Trading of Oceaneering International

A number of large investors have recently modified their holdings of the stock. Algert Global LLC grew its stake in Oceaneering International by 23.1% during the 3rd quarter. Algert Global LLC now owns 100,013 shares of the oil and gas company’s stock worth $2,487,000 after purchasing an additional 18,760 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Oceaneering International by 32.3% during the third quarter. Fisher Asset Management LLC now owns 132,363 shares of the oil and gas company’s stock worth $3,292,000 after buying an additional 32,297 shares in the last quarter. Earnest Partners LLC grew its position in shares of Oceaneering International by 21.0% during the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after buying an additional 1,105,263 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Oceaneering International by 10.0% during the second quarter. Envestnet Asset Management Inc. now owns 266,885 shares of the oil and gas company’s stock worth $6,314,000 after buying an additional 24,283 shares during the period. Finally, FMR LLC raised its holdings in Oceaneering International by 1.3% in the third quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock valued at $72,023,000 after acquiring an additional 36,593 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.