StockNews.com Upgrades Oceaneering International (NYSE:OII) to “Buy”

Oceaneering International (NYSE:OII) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Separately, Barclays decreased their target price on shares of Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 29th.

Oceaneering International Price Performance

NYSE OII traded down $0.25 on Thursday, hitting $22.28. The company had a trading volume of 698,302 shares, compared to its average volume of 811,500. The company has a market capitalization of $2.26 billion, a PE ratio of 23.45 and a beta of 2.49. The company’s fifty day moving average price is $22.27 and its 200-day moving average price is $21.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.78 and a quick ratio of 1.50. Oceaneering International has a 12-month low of $14.99 and a 12-month high of $27.46.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $654.60 million for the quarter, compared to analyst estimates of $624.81 million. Oceaneering International had a net margin of 4.02% and a return on equity of 14.00%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 EPS. As a group, analysts predict that Oceaneering International will post 1.54 earnings per share for the current year.

Institutional Trading of Oceaneering International

Several hedge funds have recently made changes to their positions in OII. Loomis Sayles & Co. L P acquired a new stake in shares of Oceaneering International during the third quarter worth about $30,757,000. Norges Bank purchased a new stake in shares of Oceaneering International during the fourth quarter worth approximately $16,865,000. Hennessy Advisors Inc. increased its stake 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 buying an additional 829,000 shares during the period. Royal Bank of Canada increased its stake in shares of Oceaneering International by 1,636.6% during the fourth quarter. Royal Bank of Canada now owns 784,506 shares of the oil and gas company’s stock worth $16,694,000 after buying an additional 739,331 shares during the period. Finally, Bank of New York Mellon Corp increased its stake 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 buying an additional 734,518 shares during the period. Institutional investors and hedge funds 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.