Oceaneering International (NYSE:OII) Downgraded to Neutral Rating by Citigroup

Oceaneering International (NYSE:OII - Get Free Report) was downgraded by research analysts at Citigroup from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a $30.00 price target on the oil and gas company's stock. Citigroup's target price suggests a potential upside of 13.46% from the company's previous close.

Several other brokerages have also recently issued reports on OII. TD Cowen lifted their price objective on Oceaneering International from $26.00 to $27.00 and gave the company a "hold" rating in a research note on Wednesday. Barclays upgraded Oceaneering International from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $22.00 to $26.00 in a research note on Wednesday, December 18th. Finally, Benchmark restated a "buy" rating and set a $34.00 price objective on shares of Oceaneering International in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Oceaneering International has a consensus rating of "Hold" and a consensus target price of $29.25.

Oceaneering International Trading Down 2.4 %

NYSE:OII traded down $0.66 on Friday, reaching $26.44. 952,923 shares of the company's stock were exchanged, compared to its average volume of 679,504. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 20.03 and a beta of 2.41. Oceaneering International has a 52-week low of $18.95 and a 52-week high of $30.98. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $27.19 and a 200-day moving average of $26.06.

Oceaneering International (NYSE:OII - Get Free Report) last released its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (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 for the quarter, compared to analyst estimates of $693.69 million. During the same quarter last year, the company earned $0.38 earnings per share. Oceaneering International's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, analysts expect that Oceaneering International will post 1.4 earnings per share for the current year.

Institutional Trading of Oceaneering International

A number of hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC purchased a new position in Oceaneering International in the second quarter valued at about $38,000. Farther Finance Advisors LLC boosted its stake in shares of Oceaneering International by 3,594.3% during the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,905 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in Oceaneering International in the 3rd quarter valued at about $57,000. GAMMA Investing LLC raised its stake in Oceaneering International by 108.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company's stock valued at $68,000 after purchasing an additional 1,412 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Oceaneering International by 165.5% during the third quarter. CWM LLC now owns 6,935 shares of the oil and gas company's stock worth $172,000 after buying an additional 4,323 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.