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

Oceaneering International (NYSE:OII) had its price objective lowered by research analysts at Barclays from $47.00 to $42.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective points to a potential upside of 4.18% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Weiss Ratings downgraded Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Citigroup raised their price objective on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.33.

Oceaneering International Trading Up 2.7%

NYSE OII traded up $1.04 on Monday, reaching $40.31. The stock had a trading volume of 204,573 shares, compared to its average volume of 1,110,663. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $47.34 and a two-hundred day moving average price of $43.02. Oceaneering International has a 12-month low of $22.13 and a 12-month high of $54.25. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 12.26 and a beta of 1.25.

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

Insider Transactions at Oceaneering International

In other Oceaneering International news, CEO Roderick Larson sold 6,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 391,279 shares in the company, valued at $17,278,880.64. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Christopher Dyer sold 1,200 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the transaction, the senior vice president directly owned 14,702 shares in the company, valued at approximately $700,550.30. The trade was a 7.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,901 shares of company stock valued at $1,542,864 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Oceaneering International

A number of large investors have recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of Oceaneering International by 63.2% during the second quarter. Allworth Financial LP now owns 1,046 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 405 shares during the period. Root Financial Partners LLC bought a new stake in shares of Oceaneering International in the 3rd quarter worth about $26,000. Carlson Capital L.P. grew its holdings in shares of Oceaneering International by 2.5% in 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 purchasing an additional 800 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Oceaneering International in the 2nd quarter worth about $35,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Oceaneering International by 3.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,018 shares of the oil and gas company’s stock worth $958,000 after purchasing an additional 885 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.