Oceaneering International (NYSE:OII) Rating Increased to Equal Weight at Barclays

Oceaneering International (NYSE:OII) was upgraded by stock analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $26.00 target price on the oil and gas company’s stock, up from their previous target price of $22.00. Barclays‘s price target indicates a potential upside of 7.26% from the company’s previous close.

Separately, Benchmark restated a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research note on Friday, October 25th.

Oceaneering International Price Performance

Shares of NYSE OII opened at $24.24 on Wednesday. The stock’s 50-day simple moving average is $26.78 and its 200-day simple moving average is $25.57. The firm has a market capitalization of $2.45 billion, a PE ratio of 18.36 and a beta of 2.39. Oceaneering International has a fifty-two week low of $18.95 and a fifty-two week high of $30.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76.

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

Hedge Funds Weigh In On Oceaneering International

A number of institutional investors have recently modified their holdings of the business. Isthmus Partners LLC boosted its stake in Oceaneering International by 0.9% during the 2nd quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 968 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Oceaneering International during the second quarter worth about $38,000. Farther Finance Advisors LLC boosted its stake in shares of Oceaneering International by 3,594.3% during the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,905 shares during the period. Millburn Ridgefield Corp purchased a new position in shares of Oceaneering International during the third quarter worth about $57,000. Finally, GAMMA Investing LLC increased its position in Oceaneering International by 108.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 1,412 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

About Oceaneering International

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.