Oceaneering International (NYSE:OII) Trading 3.4% Higher - Here's Why

Shares of Oceaneering International, Inc. (NYSE:OII - Get Free Report) rose 3.4% on Thursday . The stock traded as high as $20.23 and last traded at $20.02. Approximately 169,689 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 844,855 shares. The stock had previously closed at $19.36.

Wall Street Analysts Forecast Growth

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

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Oceaneering International Trading Up 1.3 %

The company's 50 day simple moving average is $24.51 and its 200-day simple moving average is $25.54. The firm has a market cap of $1.97 billion, a P/E ratio of 13.58 and a beta of 2.42. The company has a quick ratio of 1.46, a current ratio of 1.74 and a debt-to-equity ratio of 0.67.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings results 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). Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. The business had revenue of $713.45 million for the quarter, compared to the consensus estimate of $681.60 million. As a group, research analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

A number of institutional investors have recently added to or reduced their stakes in the stock. Inspire Advisors LLC lifted its position in shares of Oceaneering International by 4.9% during the fourth quarter. Inspire Advisors LLC now owns 8,848 shares of the oil and gas company's stock valued at $231,000 after buying an additional 411 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Oceaneering International by 0.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,032 shares of the oil and gas company's stock valued at $1,853,000 after acquiring an additional 446 shares during the last quarter. LPL Financial LLC lifted its position in Oceaneering International by 0.8% during the fourth quarter. LPL Financial LLC now owns 56,253 shares of the oil and gas company's stock valued at $1,467,000 after acquiring an additional 451 shares during the last quarter. Captrust Financial Advisors boosted its stake 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 valued at $380,000 after acquiring an additional 578 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its position in shares of Oceaneering International by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company's stock worth $276,000 after purchasing an additional 584 shares in the last quarter. 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.

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