Oceaneering International (NYSE:OII) Stock Rating Lowered by StockNews.com

Oceaneering International (NYSE:OII) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

OII has been the topic of several other research reports. Benchmark restated a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a report on Thursday. Barclays decreased their target price 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.

Oceaneering International Stock Performance

Shares of NYSE:OII opened at $24.90 on Friday. The business’s fifty day moving average price is $22.54 and its two-hundred day moving average price is $21.78. Oceaneering International has a fifty-two week low of $14.99 and a fifty-two week high of $27.46. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 23.49 and a beta of 2.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.76 and a quick ratio of 1.50.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.16). The business had revenue of $599.09 million for the quarter, compared to the consensus estimate of $613.58 million. Oceaneering International had a return on equity of 14.82% and a net margin of 4.36%. As a group, analysts predict that Oceaneering International will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P acquired a new position in Oceaneering International in the third quarter valued at about $30,757,000. Hennessy Advisors Inc. raised its position in shares of Oceaneering International by 541.1% during the fourth quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after purchasing an additional 829,000 shares during the period. Bank of New York Mellon Corp raised its position in shares of Oceaneering International by 79.3% during the third quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock worth $42,704,000 after purchasing an additional 734,518 shares during the period. Norges Bank acquired a new stake in shares of Oceaneering International during the fourth quarter worth about $15,161,000. Finally, FMR LLC grew its holdings in shares of Oceaneering International by 18.9% during the third quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock worth $114,134,000 after buying an additional 705,534 shares in the last quarter. 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.