Barclays Cuts Oceaneering International (NYSE:OII) Price Target to $22.00

Oceaneering International (NYSE:OII) had its price target reduced by equities researchers at Barclays from $26.00 to $22.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective suggests a potential upside of 12.33% from the stock’s previous close.

OII has been the subject of a number of other reports. StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday. Pickering Energy Partners cut shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Citigroup downgraded Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research report on Friday, January 10th. Finally, TD Cowen boosted their price objective on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Oceaneering International has an average rating of “Hold” and an average price target of $28.25.

Oceaneering International Price Performance

Shares of OII opened at $19.59 on Wednesday. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 13.60 and a beta of 2.38. The company has a current ratio of 1.74, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $25.24 and its 200 day simple moving average is $25.82. Oceaneering International has a 1-year low of $19.62 and a 1-year high of $30.98.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $713.45 million during the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. On average, research analysts forecast that Oceaneering International will post 1.78 earnings per share for the current fiscal year.

Institutional Trading of Oceaneering International

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Oceaneering International by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,480,517 shares of the oil and gas company’s stock worth $325,492,000 after acquiring an additional 69,337 shares during the period. State Street Corp boosted its holdings in Oceaneering International by 2.1% in the 3rd quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock worth $129,847,000 after buying an additional 107,394 shares during the period. Brown Advisory Inc. grew its stake in Oceaneering International by 22.5% in the 4th quarter. Brown Advisory Inc. now owns 5,129,668 shares of the oil and gas company’s stock valued at $133,782,000 after buying an additional 941,849 shares in the last quarter. FMR LLC lifted its position in shares of Oceaneering International by 1.3% during the third quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock worth $72,023,000 after acquiring an additional 36,593 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Oceaneering International by 14.3% in the fourth quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company’s stock worth $74,112,000 after acquiring an additional 355,290 shares during the period. 93.93% of the stock is currently 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.