Oceaneering International (NYSE:OII) Shares Gap Up – Here’s Why

Oceaneering International, Inc. (NYSE:OII) gapped up before the market opened on Wednesday . The stock had previously closed at $22.01, but opened at $22.50. Oceaneering International shares last traded at $22.51, with a volume of 110,332 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OII shares. Citigroup cut Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Friday, January 10th. StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Pickering Energy Partners lowered shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. Barclays cut their price target on Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Finally, TD Cowen increased their price objective on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Oceaneering International presently has a consensus rating of “Hold” and an average price target of $28.25.

Oceaneering International Stock Performance

The company has a 50-day moving average price of $23.28 and a two-hundred day moving average price of $25.18. The company has a market capitalization of $2.21 billion, a PE ratio of 15.23 and a beta of 2.42. The company has a quick ratio of 1.46, a current ratio of 1.74 and a debt-to-equity ratio of 0.67.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $713.45 million during the quarter, compared to analysts’ expectations of $681.60 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. Analysts predict that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC increased its stake in Oceaneering International by 8.0% in the 3rd quarter. Natixis Advisors LLC now owns 36,045 shares of the oil and gas company’s stock worth $896,000 after acquiring an additional 2,657 shares during the last quarter. Pathstone Holdings LLC raised its position in Oceaneering International by 18.2% in the 3rd quarter. Pathstone Holdings LLC now owns 60,417 shares of the oil and gas company’s stock worth $1,503,000 after purchasing an additional 9,316 shares during the period. Intech Investment Management LLC lifted its stake in Oceaneering International by 24.5% in the third quarter. Intech Investment Management LLC now owns 27,084 shares of the oil and gas company’s stock worth $674,000 after purchasing an additional 5,332 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Oceaneering International by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,240,577 shares of the oil and gas company’s stock valued at $30,853,000 after buying an additional 15,678 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Oceaneering International by 32.3% during the third quarter. Fisher Asset Management LLC now owns 132,363 shares of the oil and gas company’s stock valued at $3,292,000 after buying an additional 32,297 shares during the last quarter. 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.