Oceaneering International (NYSE:OII) Shares Gap Up – What’s Next?

Oceaneering International, Inc. (NYSE:OII) shares gapped up before the market opened on Wednesday . The stock had previously closed at $22.01, but opened at $22.50. Oceaneering International shares last traded at $22.51, with a volume of 110,332 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OII shares. Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. Citigroup downgraded shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Friday, January 10th. StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. Barclays decreased their price target on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Finally, TD Cowen lifted their target price on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Oceaneering International presently has an average rating of “Hold” and a consensus target price of $28.25.

Oceaneering International Trading Up 1.3 %

The company’s 50 day moving average price is $23.46 and its two-hundred day moving average price is $25.22. The firm has a market cap of $2.25 billion, a PE ratio of 15.49 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) last posted its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $713.45 million during the quarter, compared to analysts’ expectations 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 forecast that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in shares of Oceaneering International in the 4th quarter worth approximately $40,000. Millburn Ridgefield Corp bought a new position in shares of Oceaneering International during the 3rd quarter worth approximately $57,000. Tower Research Capital LLC TRC lifted its position in Oceaneering International by 191.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company’s stock valued at $85,000 after acquiring an additional 2,131 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Oceaneering International by 354.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 3,157 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Oceaneering International during the 4th quarter worth $119,000. 93.93% of the stock is currently owned by institutional investors.

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.