Oceaneering International (NYSE:OII) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Oceaneering International (NYSE:OIIFree Report) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Separately, Barclays decreased their price objective on Oceaneering International from $23.00 to $22.00 and set an equal weight rating on the stock in a report on Thursday, February 29th.

Get Our Latest Analysis on Oceaneering International

Oceaneering International Trading Up 0.3 %

Shares of Oceaneering International stock opened at $23.40 on Thursday. The stock has a market cap of $2.36 billion, a P/E ratio of 24.63 and a beta of 2.47. The stock’s 50 day simple moving average is $21.33 and its 200-day simple moving average is $21.90. Oceaneering International has a 1-year low of $14.99 and a 1-year high of $27.46. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.78 and a quick ratio of 1.50.

Oceaneering International (NYSE:OIIGet Free Report) last issued its earnings results on Thursday, February 22nd. The oil and gas company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). Oceaneering International had a return on equity of 14.00% and a net margin of 4.02%. The company had revenue of $654.60 million for the quarter, compared to analyst estimates of $624.81 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts predict that Oceaneering International will post 1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new position in Oceaneering International during the first quarter worth $161,000. Advisor Group Holdings Inc. lifted its stake in Oceaneering International by 111.6% during the first quarter. Advisor Group Holdings Inc. now owns 3,100 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 1,635 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Oceaneering International by 8.0% during the first quarter. JPMorgan Chase & Co. now owns 831,624 shares of the oil and gas company’s stock worth $12,608,000 after purchasing an additional 61,875 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Oceaneering International by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 1,161,002 shares of the oil and gas company’s stock worth $17,601,000 after purchasing an additional 63,235 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Oceaneering International by 1.7% during the first quarter. Citigroup Inc. now owns 96,060 shares of the oil and gas company’s stock worth $1,456,000 after purchasing an additional 1,617 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Company Profile

(Get Free Report)

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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