Barclays Cuts Oceaneering International (NYSE:OII) Price Target to $15.00

Oceaneering International (NYSE:OIIGet Rating) had its price target reduced by Barclays from $18.00 to $15.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

OII has been the topic of a number of other reports. Cowen set a $15.00 target price on shares of Oceaneering International in a report on Monday, June 20th. StockNews.com downgraded shares of Oceaneering International from a buy rating to a hold rating in a report on Wednesday, May 4th. Finally, Piper Sandler boosted their target price on shares of Oceaneering International from $22.50 to $25.00 and gave the stock an overweight rating in a report on Monday, April 18th.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $8.65 on Tuesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.11 and a current ratio of 2.43. The company has a market cap of $867.25 million, a P/E ratio of -14.18 and a beta of 2.77. The firm’s fifty day moving average is $10.75 and its two-hundred day moving average is $12.83. Oceaneering International has a 52-week low of $8.56 and a 52-week high of $18.20.

Oceaneering International (NYSE:OIIGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.07). The company had revenue of $524.03 million during the quarter, compared to the consensus estimate of $521.02 million. Oceaneering International had a negative net margin of 3.24% and a positive return on equity of 0.91%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. As a group, analysts anticipate that Oceaneering International will post 0.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven A. Webster purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The stock was purchased at an average cost of $8.72 per share, with a total value of $218,000.00. Following the purchase, the director now owns 99,208 shares in the company, valued at $865,093.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oceaneering International

A number of large investors have recently made changes to their positions in OII. Allspring Global Investments Holdings LLC purchased a new stake in Oceaneering International in the 4th quarter valued at about $1,247,000. Yousif Capital Management LLC purchased a new stake in Oceaneering International in the 4th quarter valued at about $1,042,000. Dupont Capital Management Corp boosted its position in Oceaneering International by 36.5% in the 4th quarter. Dupont Capital Management Corp now owns 60,226 shares of the oil and gas company’s stock valued at $681,000 after buying an additional 16,114 shares during the period. CWM LLC purchased a new stake in Oceaneering International in the 4th quarter valued at about $602,000. Finally, New York State Common Retirement Fund boosted its position in Oceaneering International by 11.0% in the 4th quarter. New York State Common Retirement Fund now owns 72,327 shares of the oil and gas company’s stock valued at $818,000 after buying an additional 7,175 shares during the period. 87.15% of the stock is owned by hedge funds and other institutional investors.

About Oceaneering International

(Get Rating)

Oceaneering International, Inc provides engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. The company's Subsea Robotics segment provides remotely operated vehicles (ROVs) for drill support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair.

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