Oceaneering International (NYSE:OII) Shares Gap Up to $23.05

Oceaneering International, Inc. (NYSE:OII) gapped up before the market opened on Thursday . The stock had previously closed at $23.05, but opened at $23.91. Oceaneering International shares last traded at $22.99, with a volume of 397,988 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays lowered their target price on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. StockNews.com upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Benchmark restated a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research note on Thursday.

Oceaneering International Stock Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.78 and a quick ratio of 1.50. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 24.57 and a beta of 2.49. The firm has a fifty day simple moving average of $22.43 and a two-hundred day simple moving average of $21.77.

Oceaneering International (NYSE:OII) last issued 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). Oceaneering International had a return on equity of 14.00% and a net margin of 4.02%. The business had revenue of $599.09 million during the quarter, compared to analyst estimates of $613.58 million. On average, analysts expect that Oceaneering International, Inc. will post 1.54 EPS for the current year.

Institutional Trading of Oceaneering International

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Neo Ivy Capital Management acquired a new position in Oceaneering International during the fourth quarter worth $44,000. Pineridge Advisors LLC acquired a new position in Oceaneering International during the fourth quarter worth $44,000. Exchange Traded Concepts LLC acquired a new position in Oceaneering International during the third quarter worth $93,000. Meridian Management Co. acquired a new position in Oceaneering International during the third quarter worth $206,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Oceaneering International in the 3rd quarter valued at $206,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.