StockNews.com Lowers Oceaneering International (NYSE:OII) to Hold

StockNews.com cut shares of Oceaneering International (NYSE:OII) from a buy rating to a hold rating in a research report released on Saturday.

Separately, Barclays reduced their price objective on Oceaneering International from $23.00 to $22.00 and set an equal weight rating for the company in a research note on Thursday, February 29th.

Oceaneering International Trading Up 0.8 %

Oceaneering International stock opened at $25.20 on Friday. The stock has a 50-day moving average of $21.71 and a two-hundred day moving average of $21.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.78. Oceaneering International has a one year low of $14.99 and a one year high of $27.46. The stock has a market cap of $2.56 billion, a PE ratio of 26.53 and a beta of 2.49.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). Oceaneering International had a net margin of 4.02% and a return on equity of 14.00%. The business had revenue of $654.60 million during the quarter, compared to analysts’ expectations of $624.81 million. During the same quarter last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts anticipate that Oceaneering International will post 1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OII. Point72 Hong Kong Ltd grew its holdings in Oceaneering International by 250.1% during the second quarter. Point72 Hong Kong Ltd now owns 2,804 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 2,003 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Oceaneering International during the fourth quarter worth about $31,000. Chilton Capital Management LLC acquired a new stake in Oceaneering International during the first quarter worth about $35,000. Neo Ivy Capital Management acquired a new stake in Oceaneering International during the fourth quarter worth about $44,000. Finally, Pineridge Advisors LLC acquired a new stake in Oceaneering International during the fourth quarter worth about $44,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.