Oceaneering International (NYSE:OII) Upgraded at Barclays

Oceaneering International (NYSE:OII) was upgraded by research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $26.00 price target on the oil and gas company’s stock, up from their previous price target of $22.00. Barclays‘s price objective would indicate a potential upside of 2.87% from the stock’s previous close.

Separately, Benchmark restated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th.

Oceaneering International Stock Down 0.4 %

NYSE:OII opened at $25.28 on Wednesday. The company has a 50-day moving average of $26.83 and a 200 day moving average of $25.59. Oceaneering International has a 1-year low of $18.95 and a 1-year high of $30.98. The firm has a market cap of $2.55 billion, a PE ratio of 19.15 and a beta of 2.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The business had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. During the same period last year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that Oceaneering International will post 1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

A number of large investors have recently modified their holdings of the business. Earnest Partners LLC increased its position in shares of Oceaneering International by 21.0% in the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock valued at $150,601,000 after acquiring an additional 1,105,263 shares during the period. State Street Corp grew its stake in Oceaneering International by 2.1% during the 3rd quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock valued at $129,847,000 after purchasing an additional 107,394 shares during the last quarter. FMR LLC increased its holdings in shares of Oceaneering International by 1.3% in the third quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock valued at $72,023,000 after purchasing an additional 36,593 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Oceaneering International by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock worth $64,003,000 after purchasing an additional 43,941 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Oceaneering International by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,279,039 shares of the oil and gas company’s stock worth $56,691,000 after purchasing an additional 26,328 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

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.