Oceaneering International (NYSE:OII) Lowered to “Hold” at StockNews.com

Oceaneering International (NYSE:OII) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

OII has been the topic of a number of other research reports. Benchmark restated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research note on Thursday. Barclays lowered their target price on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th.

Oceaneering International Stock Up 1.4 %

NYSE:OII traded up $0.35 during mid-day trading on Friday, hitting $24.90. 1,099,344 shares of the company’s stock traded hands, compared to its average volume of 832,110. The company has a fifty day moving average of $22.54 and a 200 day moving average of $21.80. Oceaneering International has a twelve month low of $14.99 and a twelve month high of $27.46. The company has a market capitalization of $2.52 billion, a P/E ratio of 23.49 and a beta of 2.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.50 and a current ratio of 1.78.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.16). The firm had revenue of $599.09 million for the quarter, compared to analysts’ expectations of $613.58 million. Oceaneering International had a net margin of 4.36% and a return on equity of 15.10%. On average, analysts forecast that Oceaneering International will post 1.54 EPS for the current year.

Hedge Funds Weigh In On Oceaneering International

A number of hedge funds have recently bought and sold shares of the business. Simplicity Wealth LLC purchased a new position in Oceaneering International during the first quarter worth approximately $284,000. Oldfield Partners LLP boosted its position in Oceaneering International by 4.0% during the first quarter. Oldfield Partners LLP now owns 67,229 shares of the oil and gas company’s stock worth $1,573,000 after purchasing an additional 2,600 shares in the last quarter. Norden Group LLC purchased a new position in Oceaneering International during the first quarter worth approximately $233,000. SteelPeak Wealth LLC purchased a new position in Oceaneering International during the first quarter worth approximately $516,000. Finally, Hennessy Advisors Inc. boosted its position in Oceaneering International by 18.8% during the first quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company’s stock worth $27,296,000 after purchasing an additional 184,300 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.