Oceaneering International (NYSE:OII) Stock Price Target Cut by Citigroup

Oceaneering International (NYSE:OII) had its target price lowered by investment analysts at Citigroup from $52.00 to $45.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup‘s price target would indicate a potential upside of 8.28% from the stock’s previous close.

A number of other research firms have also recently commented on OII. Weiss Ratings cut shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Finally, Barclays reduced their price target on Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Oceaneering International has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Oceaneering International Stock Down 0.1%

Shares of OII stock traded down $0.05 on Thursday, hitting $41.56. The stock had a trading volume of 929,371 shares, compared to its average volume of 1,114,672. Oceaneering International has a one year low of $22.13 and a one year high of $54.25. The business has a 50 day moving average price of $46.63 and a 200 day moving average price of $40.08. The company has a market cap of $4.14 billion, a PE ratio of 12.63 and a beta of 1.25. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.40.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. The company had revenue of $784.55 million during the quarter, compared to analysts’ expectations of $775.93 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that Oceaneering International will post 2.10 earnings per share for the current fiscal year.

Insider Buying and Selling at Oceaneering International

In related news, Director Paul Murphy, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $48.37, for a total transaction of $483,700.00. Following the sale, the director owned 68,916 shares in the company, valued at approximately $3,333,466.92. This trade represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Roderick Larson sold 6,000 shares of Oceaneering International stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $44.16, for a total transaction of $264,960.00. Following the completion of the transaction, the chief executive officer directly owned 391,279 shares of the company’s stock, valued at $17,278,880.64. The trade was a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oceaneering International

Large investors have recently bought and sold shares of the business. Allworth Financial LP grew its holdings in Oceaneering International by 63.2% in the second quarter. Allworth Financial LP now owns 1,046 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 405 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Oceaneering International in the third quarter valued at approximately $26,000. Choreo LLC raised its stake in shares of Oceaneering International by 5.8% during the 3rd quarter. Choreo LLC now owns 11,509 shares of the oil and gas company’s stock worth $502,000 after buying an additional 630 shares during the period. Carlson Capital L.P. raised its stake in shares of Oceaneering International by 2.5% during the 1st quarter. Carlson Capital L.P. now owns 32,800 shares of the oil and gas company’s stock worth $1,163,000 after buying an additional 800 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Oceaneering International during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.