Oceaneering International (NYSE:OII) Given New $22.00 Price Target at Barclays

Oceaneering International (NYSE:OII) had its price target decreased by equities researchers at Barclays from $26.00 to $22.00 in a note issued to 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 would indicate a potential upside of 14.54% from the company’s current price.

A number of other research firms have also commented on OII. TD Cowen lifted their price objective on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. StockNews.com lowered Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. Pickering Energy Partners lowered Oceaneering International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 14th. Finally, Citigroup lowered Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.25.

Oceaneering International Stock Performance

Shares of OII stock opened at $19.21 on Wednesday. The business’s 50-day moving average price is $25.14 and its 200-day moving average price is $25.78. Oceaneering International has a 12 month low of $19.01 and a 12 month high of $30.98. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 13.34 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.

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

Institutional Investors Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently modified their holdings of OII. R Squared Ltd bought a new stake in shares of Oceaneering International during the fourth quarter valued at approximately $40,000. Farther Finance Advisors LLC increased its holdings in shares of Oceaneering International by 3,594.3% during the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,905 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Oceaneering International during the third quarter valued at approximately $57,000. Tower Research Capital LLC TRC increased its holdings in shares of Oceaneering International by 191.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company’s stock valued at $85,000 after acquiring an additional 2,131 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Oceaneering International by 354.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 3,157 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

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.