Oceaneering International (NYSE:OII) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Oceaneering International (NYSE:OII) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other equities research analysts have also issued reports on OII. Benchmark reaffirmed a buy rating and issued a $34.00 price objective on shares of Oceaneering International in a research note on Thursday. Barclays lowered their price objective on Oceaneering International from $23.00 to $22.00 and set an equal weight rating for the company in a research note on Thursday, February 29th.

Oceaneering International Stock Performance

NYSE:OII opened at $24.90 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.50 and a debt-to-equity ratio of 0.76. Oceaneering International has a 12-month low of $14.99 and a 12-month high of $27.46. The stock has a 50-day moving average price of $22.54 and a 200 day moving average price of $21.80. The stock has a market capitalization of $2.52 billion, a P/E ratio of 23.49 and a beta of 2.49.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.16). Oceaneering International had a return on equity of 14.82% and a net margin of 4.36%. The business had revenue of $599.09 million for the quarter, compared to analysts’ expectations of $613.58 million. Equities research analysts forecast that Oceaneering International will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

Hedge funds and other institutional investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new stake in shares of Oceaneering International in the fourth quarter worth approximately $44,000. Pineridge Advisors LLC purchased a new stake in shares of Oceaneering International in the fourth quarter worth approximately $44,000. Exchange Traded Concepts LLC purchased a new stake in shares of Oceaneering International in the third quarter worth approximately $93,000. Meridian Management Co. purchased a new stake in shares of Oceaneering International in the third quarter worth approximately $206,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Oceaneering International in the third quarter worth approximately $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.