Oceaneering International (NYSE:OII) Hits New 1-Year Low – What’s Next?

Oceaneering International, Inc. (NYSE:OII) shares hit a new 52-week low on Tuesday . The stock traded as low as $19.86 and last traded at $19.82, with a volume of 14517 shares trading hands. The stock had previously closed at $20.73.

Analyst Upgrades and Downgrades

OII has been the subject of a number of analyst reports. StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research note on Friday, January 10th. TD Cowen increased their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Pickering Energy Partners lowered Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. Finally, Barclays upgraded Oceaneering International from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $22.00 to $26.00 in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Oceaneering International has an average rating of “Hold” and an average target price of $29.25.

Oceaneering International Price Performance

The company has a market cap of $2.18 billion, a P/E ratio of 13.67 and a beta of 2.38. The stock has a 50-day simple moving average of $25.34 and a 200 day simple moving average of $25.87. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74.

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

Institutional Investors Weigh In On Oceaneering International

Several large investors have recently modified their holdings of OII. Mackenzie Financial Corp boosted its stake in Oceaneering International by 87.9% in the 4th quarter. Mackenzie Financial Corp now owns 18,087 shares of the oil and gas company’s stock valued at $472,000 after buying an additional 8,459 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Oceaneering International by 10.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 160,599 shares of the oil and gas company’s stock valued at $4,188,000 after acquiring an additional 14,822 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of Oceaneering International in the 4th quarter valued at $379,000. Teza Capital Management LLC bought a new stake in shares of Oceaneering International in the 4th quarter worth about $528,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Oceaneering International during the 4th quarter worth about $200,000. 93.93% of the stock is currently 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.