Oceaneering International (NYSE:OII) Shares Gap Up - What's Next?

Oceaneering International, Inc. (NYSE:OII - Get Free Report)'s share price 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 traded.

Analysts Set New Price Targets

Several equities analysts have weighed in on OII shares. TD Cowen raised 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, January 8th. Citigroup downgraded shares of Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 price objective for the company. in a research report on Friday, January 10th. Barclays dropped their target price on shares of Oceaneering International from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. StockNews.com downgraded Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. Finally, Pickering Energy Partners cut Oceaneering International from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $28.25.

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Oceaneering International Stock Performance

The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46. The company has a 50 day simple moving average of $23.18 and a 200-day simple moving average of $25.18. The firm has a market cap of $2.17 billion, a PE ratio of 15.00 and a beta of 2.42.

Oceaneering International (NYSE:OII - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $713.45 million during the quarter, compared to analysts' expectations of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. As a group, equities research analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Hedge Funds Weigh In On Oceaneering International

Institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Oceaneering International in the fourth quarter worth approximately $40,000. Millburn Ridgefield Corp bought a new stake in Oceaneering International in the 3rd quarter worth $57,000. Tower Research Capital LLC TRC increased its position in shares of Oceaneering International by 191.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company's stock valued at $85,000 after acquiring an additional 2,131 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Oceaneering International by 354.7% during 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 acquiring an additional 3,157 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Oceaneering International during the fourth quarter worth about $119,000. 93.93% of the stock is currently owned by institutional investors.

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.