Oceaneering International (NYSE:OII) Shares Gap Down on Analyst Downgrade

Oceaneering International, Inc. (NYSE:OII - Get Free Report)'s stock price gapped down before the market opened on Wednesday after Barclays lowered their price target on the stock from $26.00 to $22.00. The stock had previously closed at $20.15, but opened at $19.64. Barclays currently has an equal weight rating on the stock. Oceaneering International shares last traded at $19.19, with a volume of 89,907 shares trading hands.

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

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Institutional Trading of Oceaneering International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Inspire Advisors LLC lifted its holdings in Oceaneering International by 4.9% in the fourth quarter. Inspire Advisors LLC now owns 8,848 shares of the oil and gas company's stock worth $231,000 after buying an additional 411 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Oceaneering International by 0.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,032 shares of the oil and gas company's stock worth $1,853,000 after buying an additional 446 shares during the period. LPL Financial LLC lifted its holdings in Oceaneering International by 0.8% in the fourth quarter. LPL Financial LLC now owns 56,253 shares of the oil and gas company's stock worth $1,467,000 after buying an additional 451 shares during the period. Captrust Financial Advisors lifted its holdings in Oceaneering International by 3.9% in the third quarter. Captrust Financial Advisors now owns 15,271 shares of the oil and gas company's stock worth $380,000 after buying an additional 578 shares during the period. Finally, Summit Investment Advisors Inc. lifted its holdings in Oceaneering International by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company's stock worth $276,000 after buying an additional 584 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Stock Up 3.8 %

The company has a quick ratio of 1.46, a current ratio of 1.74 and a debt-to-equity ratio of 0.67. The company's fifty day simple moving average is $24.91 and its 200 day simple moving average is $25.68. The firm has a market capitalization of $2.01 billion, a PE ratio of 13.86 and a beta of 2.42.

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

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.