Oceaneering International (NYSE:OII) Given New $22.00 Price Target at Barclays

Oceaneering International (NYSE:OII) had its price target lowered by Barclays from $26.00 to $22.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the oil and gas company’s stock.

OII has been the topic of a number of other reports. Citigroup cut Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research report on Friday, January 10th. TD Cowen upped their price objective on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Finally, StockNews.com cut Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Oceaneering International presently has a consensus rating of “Hold” and a consensus price target of $28.25.

Oceaneering International Stock Performance

Oceaneering International stock opened at $19.75 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $25.14 and a 200-day moving average of $25.78. The firm has a market cap of $2.19 billion, a P/E ratio of 13.71 and a beta of 2.38. Oceaneering International has a 1-year low of $19.03 and a 1-year high of $30.98.

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

Institutional Investors Weigh In On Oceaneering International

Hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC raised its stake in Oceaneering International by 23.1% during the 3rd quarter. Algert Global LLC now owns 100,013 shares of the oil and gas company’s stock valued at $2,487,000 after buying an additional 18,760 shares during the last quarter. Stifel Financial Corp raised its stake in Oceaneering International by 51.8% during the 3rd quarter. Stifel Financial Corp now owns 68,943 shares of the oil and gas company’s stock valued at $1,715,000 after buying an additional 23,512 shares during the last quarter. Fisher Asset Management LLC raised its stake in Oceaneering International by 32.3% during the 3rd 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. Barclays PLC raised its stake in Oceaneering International by 334.5% during the 3rd quarter. Barclays PLC now owns 180,470 shares of the oil and gas company’s stock valued at $4,489,000 after buying an additional 138,931 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Oceaneering International by 12.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,838,772 shares of the oil and gas company’s stock worth $45,730,000 after purchasing an additional 206,458 shares in the last quarter. 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.