Oceaneering International (NYSE:OII) Stock Price Down 5.1%

Oceaneering International, Inc. (NYSE:OII)’s share price dropped 5.1% on Friday . The company traded as low as $6.31 and last traded at $6.37. Approximately 1,282,482 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 1,675,518 shares. The stock had previously closed at $6.71.

A number of research firms have recently commented on OII. ValuEngine raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Tuesday, November 3rd. Piper Sandler increased their target price on shares of Oceaneering International from $3.65 to $5.80 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Capital One Financial reissued an “equal weight” rating on shares of Oceaneering International in a research report on Thursday, July 30th. Finally, Cowen increased their target price on shares of Oceaneering International from $5.50 to $6.00 and gave the company a “market perform” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.57.

The stock’s 50-day moving average is $4.36 and its 200-day moving average is $5.26. The stock has a market cap of $632.57 million, a P/E ratio of -0.86 and a beta of 3.42. The company has a current ratio of 2.61, a quick ratio of 2.15 and a debt-to-equity ratio of 1.44.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.05). Oceaneering International had a negative net margin of 37.40% and a negative return on equity of 3.56%. On average, equities analysts forecast that Oceaneering International, Inc. will post -0.58 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its position in shares of Oceaneering International by 3.0% in the second quarter. American International Group Inc. now owns 70,209 shares of the oil and gas company’s stock valued at $449,000 after acquiring an additional 2,071 shares during the period. World Asset Management Inc increased its position in Oceaneering International by 23.2% in the second quarter. World Asset Management Inc now owns 13,162 shares of the oil and gas company’s stock worth $84,000 after purchasing an additional 2,480 shares during the period. CoreCommodity Management LLC boosted its holdings in Oceaneering International by 12.3% during the second quarter. CoreCommodity Management LLC now owns 25,404 shares of the oil and gas company’s stock worth $162,000 after buying an additional 2,774 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Oceaneering International by 37.3% during the second quarter. PNC Financial Services Group Inc. now owns 10,331 shares of the oil and gas company’s stock worth $67,000 after buying an additional 2,807 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Oceaneering International by 1.9% during the third quarter. Sei Investments Co. now owns 164,491 shares of the oil and gas company’s stock worth $579,000 after buying an additional 3,015 shares during the last quarter. Hedge funds and other institutional investors own 85.44% of the company’s stock.

Oceaneering International Company Profile (NYSE:OII)

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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