Oceaneering International, Inc. (NYSE:OII) Stock Has Average Price Target of $45.00

Oceaneering International, Inc. (NYSE:OII) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $45.00.

Several research analysts have weighed in on OII shares. Weiss Ratings upgraded Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Barclays increased their price target on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Citigroup raised their price objective on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th.

Oceaneering International Stock Performance

NYSE:OII opened at $44.87 on Monday. The firm has a 50 day simple moving average of $48.79 and a 200-day simple moving average of $42.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The firm has a market cap of $4.47 billion, a PE ratio of 12.89 and a beta of 1.25. Oceaneering International has a 1-year low of $22.02 and a 1-year high of $54.25.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.17. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The business had revenue of $768.18 million for the quarter, compared to the consensus estimate of $735.69 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Oceaneering International will post 2.10 EPS for the current year.

Insider Activity

In other Oceaneering International news, SVP Earl Childress sold 12,701 shares of Oceaneering International stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $46.71, for a total value of $593,263.71. Following the completion of the sale, the senior vice president owned 22,876 shares in the company, valued at $1,068,537.96. The trade was a 35.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Roderick A. Larson sold 6,000 shares of Oceaneering International stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $44.16, for a total value of $264,960.00. Following the completion of the sale, the chief executive officer owned 391,279 shares of the company’s stock, valued at $17,278,880.64. This trade represents a 1.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,901 shares of company stock valued at $1,542,864 in the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OII. Integrated Wealth Concepts LLC purchased a new stake in Oceaneering International in the second quarter valued at approximately $35,000. Allworth Financial LP acquired a new position in Oceaneering International during the second quarter worth approximately $42,000. Public Employees Retirement System of Ohio acquired a new position in Oceaneering International during the second quarter worth approximately $54,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Oceaneering International during the first quarter worth approximately $53,000. Finally, Persistent Asset Partners Ltd purchased a new position in Oceaneering International during the second quarter worth approximately $66,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.

Oceaneering’s subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.