Oceaneering International (NYSE:OII) Sets New 52-Week Low – Here’s What Happened

Oceaneering International, Inc. (NYSE:OII)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $18.87 and last traded at $19.23, with a volume of 855268 shares traded. The stock had previously closed at $19.95.

Analyst Upgrades and Downgrades

Several research analysts have commented on OII shares. Citigroup downgraded shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Friday, January 10th. TD Cowen boosted their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Barclays dropped their price target on Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. Pickering Energy Partners lowered Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Oceaneering International currently has a consensus rating of “Hold” and a consensus price target of $28.25.

Oceaneering International Stock Performance

The company has a market cap of $1.95 billion, a P/E ratio of 13.46 and a beta of 2.42. The firm has a 50 day moving average price of $24.64 and a 200-day moving average price of $25.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $713.45 million during the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. On average, research analysts predict that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Institutional Investors Weigh In On Oceaneering International

Hedge funds have recently made changes to their positions in the company. Algert Global LLC lifted its position in Oceaneering International by 23.1% during the 3rd quarter. Algert Global LLC now owns 100,013 shares of the oil and gas company’s stock worth $2,487,000 after buying an additional 18,760 shares in the last quarter. Stifel Financial Corp increased its position in Oceaneering International by 51.8% in the third quarter. Stifel Financial Corp now owns 68,943 shares of the oil and gas company’s stock worth $1,715,000 after purchasing an additional 23,512 shares during the period. Fisher Asset Management LLC raised its holdings in Oceaneering International by 32.3% during the 3rd quarter. Fisher Asset Management LLC now owns 132,363 shares of the oil and gas company’s stock worth $3,292,000 after purchasing an additional 32,297 shares during the last quarter. Barclays PLC lifted its position in Oceaneering International by 334.5% during the 3rd quarter. Barclays PLC now owns 180,470 shares of the oil and gas company’s stock valued at $4,489,000 after purchasing an additional 138,931 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Oceaneering International by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 527,149 shares of the oil and gas company’s stock valued at $13,748,000 after purchasing an additional 16,269 shares during the last quarter. 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.