TD Cowen Issues Positive Forecast for Oceaneering International (NYSE:OII) Stock Price

Oceaneering International (NYSE:OII) had its target price boosted by TD Cowen from $26.00 to $27.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a hold rating on the oil and gas company’s stock.

Several other analysts have also recently issued reports on OII. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $22.00 to $26.00 in a report on Wednesday, December 18th. Benchmark reissued a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.25.

Oceaneering International Stock Down 2.4 %

NYSE OII opened at $26.44 on Wednesday. The stock’s 50 day moving average is $27.19 and its 200 day moving average is $26.06. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. Oceaneering International has a 12 month low of $18.95 and a 12 month high of $30.98. The stock has a market cap of $2.67 billion, a PE ratio of 20.03 and a beta of 2.41.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The business had revenue of $679.81 million during the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. Research analysts predict that Oceaneering International will post 1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds have recently bought and sold shares of OII. Earnest Partners LLC grew its position in shares of Oceaneering International by 21.0% during the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after buying an additional 1,105,263 shares in the last quarter. State Street Corp lifted its stake in shares of Oceaneering International by 2.1% during the 3rd quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock worth $129,847,000 after purchasing an additional 107,394 shares during the last quarter. FMR LLC lifted its stake in shares of Oceaneering International by 1.3% during the 3rd quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock worth $72,023,000 after purchasing an additional 36,593 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Oceaneering International by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock worth $64,003,000 after purchasing an additional 43,941 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Oceaneering International by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,279,039 shares of the oil and gas company’s stock worth $56,691,000 after purchasing an additional 26,328 shares during 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.