Oceaneering International (NYSE:OII) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other equities analysts also recently commented on the company. TD Cowen upped their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Barclays raised their target price on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Citigroup upped their price target on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Oceaneering International has an average rating of “Hold” and an average price target of $41.00.

Oceaneering International Trading Down 1.1%

Shares of OII stock opened at $52.16 on Friday. The company has a 50 day moving average of $40.08 and a 200-day moving average of $36.25. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. Oceaneering International has a 12-month low of $20.79 and a 12-month high of $53.98. The firm has a market cap of $5.20 billion, a P/E ratio of 14.99 and a beta of 1.15.

Insider Activity

In related news, CEO Roderick A. Larson sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 397,279 shares in the company, valued at approximately $15,203,867.33. This represents a 1.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Leuthold Group LLC purchased a new stake in shares of Oceaneering International during the fourth quarter worth $3,548,000. Vanguard Group Inc. boosted its holdings in shares of Oceaneering International by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock worth $297,279,000 after acquiring an additional 187,707 shares during the period. Brandywine Global Investment Management LLC purchased a new position in shares of Oceaneering International in the fourth quarter valued at $5,489,000. Fifth Third Bancorp grew its position in shares of Oceaneering International by 6,782.5% in the first quarter. Fifth Third Bancorp now owns 29,526 shares of the oil and gas company’s stock valued at $1,047,000 after purchasing an additional 29,097 shares in the last quarter. Finally, CenterBook Partners LP raised its stake in shares of Oceaneering International by 506.8% during the 4th quarter. CenterBook Partners LP now owns 100,220 shares of the oil and gas company’s stock valued at $2,408,000 after purchasing an additional 83,705 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Company Profile

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.