Barclays Forecasts Strong Price Appreciation for Oceaneering International (NYSE:OII) Stock

Oceaneering International (NYSE:OII) had its price objective lifted by equities researchers at Barclays from $39.00 to $47.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price would suggest a potential downside of 11.29% from the stock’s previous close.

A number of other brokerages have also weighed in on OII. Citigroup boosted their price objective on Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, TD Cowen lifted their price target on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.00.

Oceaneering International Stock Up 0.5%

Shares of NYSE:OII opened at $52.98 on Monday. The company has a fifty day moving average of $39.81 and a 200-day moving average of $36.07. The company has a market capitalization of $5.28 billion, a PE ratio of 15.22 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. Oceaneering International has a 52-week low of $20.79 and a 52-week high of $53.10.

Insider Activity at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the transaction, the chief executive officer owned 397,279 shares in the company, valued at approximately $15,203,867.33. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Lido Advisors LLC lifted its holdings in Oceaneering International by 2.8% during the 4th quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company’s stock worth $299,000 after buying an additional 335 shares during the period. State of Alaska Department of Revenue raised its position in shares of Oceaneering International by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 54,458 shares of the oil and gas company’s stock worth $1,307,000 after acquiring an additional 380 shares during the last quarter. CSM Advisors LLC raised its position in shares of Oceaneering International by 3.1% during the third quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock worth $359,000 after acquiring an additional 428 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Oceaneering International by 2.9% in the fourth quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 545 shares during the period. Finally, State of Wyoming lifted its stake in shares of Oceaneering International by 5.8% in the fourth quarter. State of Wyoming now owns 11,299 shares of the oil and gas company’s stock worth $272,000 after acquiring an additional 621 shares during the period. 93.93% of the stock is owned by institutional investors.

About Oceaneering International

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.