Oceaneering International (NYSE:OII) Sets New 52-Week Low - Here's What Happened

Shares of Oceaneering International, Inc. (NYSE:OII - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $17.53 and last traded at $17.41, with a volume of 41755 shares trading hands. The stock had previously closed at $19.63.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays dropped their target price on Oceaneering International from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Pickering Energy Partners raised shares of Oceaneering International from an "underperform" rating to a "neutral" rating in a research note on Wednesday. TD Cowen boosted their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. Citigroup lowered shares of 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. Finally, StockNews.com downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Oceaneering International presently has an average rating of "Hold" and an average price target of $28.25.

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Oceaneering International Stock Down 12.9 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74. The business's 50 day moving average is $22.59 and its 200-day moving average is $25.08. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 11.87 and a beta of 1.94.

Oceaneering International (NYSE:OII - Get Free Report) last released its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The company had revenue of $713.45 million for 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%. On average, sell-side analysts predict that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently made changes to their positions in OII. R Squared Ltd acquired a new position in Oceaneering International in the 4th quarter valued at $40,000. Tower Research Capital LLC TRC grew its holdings in shares of Oceaneering International by 191.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company's stock worth $85,000 after buying an additional 2,131 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Oceaneering International by 354.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company's stock valued at $104,000 after buying an additional 3,157 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Oceaneering International in the fourth quarter worth about $119,000. Finally, KBC Group NV boosted its position in Oceaneering International by 72.6% during the fourth quarter. KBC Group NV now owns 5,210 shares of the oil and gas company's stock worth $136,000 after acquiring an additional 2,192 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

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.