Pickering Energy Partners Upgrades Oceaneering International (NYSE:OII) to "Neutral"

Pickering Energy Partners upgraded shares of Oceaneering International (NYSE:OII - Free Report) from an underperform rating to a neutral rating in a report published on Wednesday, MarketBeat reports.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. Citigroup downgraded Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 target price on the stock. in a research note on Friday, January 10th. Barclays dropped their price target on Oceaneering International from $26.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Finally, TD Cowen lifted their price objective on shares of Oceaneering International from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $28.25.

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Oceaneering International Stock Performance

Shares of OII stock traded down $0.58 during trading hours on Wednesday, reaching $16.57. 530,338 shares of the company traded hands, compared to its average volume of 843,994. The firm has a 50-day moving average price of $22.59 and a 200 day moving average price of $25.08. The company has a market cap of $1.67 billion, a P/E ratio of 11.54 and a beta of 1.94. Oceaneering International has a 12-month low of $15.86 and a 12-month high of $30.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46.

Oceaneering International (NYSE:OII - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The firm had revenue of $713.45 million during the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. As a group, sell-side analysts predict that Oceaneering International will post 1.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

Several institutional investors have recently added to or reduced their stakes in OII. R Squared Ltd purchased a new stake in shares of Oceaneering International during the 4th quarter valued at about $40,000. Millburn Ridgefield Corp bought a new stake in shares of Oceaneering International in the 3rd quarter valued at approximately $57,000. Tower Research Capital LLC TRC boosted its holdings in shares of Oceaneering International by 191.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company's stock worth $85,000 after purchasing an additional 2,131 shares during the period. Smartleaf Asset Management LLC raised its holdings in Oceaneering International by 354.7% during the 4th 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 period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Oceaneering International in the fourth quarter worth $119,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

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.