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

StockNews.com upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a buy rating in a report released on Thursday morning.

Separately, Barclays cut their price objective on 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 Stock Up 1.4 %

Oceaneering International stock opened at $22.60 on Thursday. Oceaneering International has a twelve month low of $14.99 and a twelve month high of $27.46. The stock’s fifty day simple moving average is $22.31 and its 200-day simple moving average is $21.77. The company has a current ratio of 1.78, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $2.29 billion, a P/E ratio of 23.79 and a beta of 2.49.

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

Hedge Funds Weigh In On Oceaneering International

Several large investors have recently bought and sold shares of the business. Norden Group LLC purchased a new position in Oceaneering International in the first quarter valued at $233,000. SteelPeak Wealth LLC purchased a new position in Oceaneering International in the first quarter valued at $516,000. Hennessy Advisors Inc. increased its holdings in Oceaneering International by 18.8% in the first quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company’s stock valued at $27,296,000 after buying an additional 184,300 shares during the last quarter. Vanguard Group Inc. increased its holdings in Oceaneering International by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 12,461,454 shares of the oil and gas company’s stock valued at $265,180,000 after buying an additional 246,067 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Oceaneering International by 19.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 461,128 shares of the oil and gas company’s stock valued at $9,813,000 after buying an additional 76,252 shares during the last quarter. Hedge funds and other 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.