Zacks Investment Research upgraded shares of Oceaneering International, Inc. (NYSE:OII) from a sell rating to a hold rating in a research note issued to investors on Thursday.

According to Zacks, “OCEANEERING INTERNATIONAL, INC. is an advanced applied technology company that provides engineered services and hardware to customers who operate in marine, space and other harsh environments. The company supplies a comprehensive range of integrated technical services to a wide array of industries and is one of the world’s largest underwater services contractors. “

Several other research firms have also recently weighed in on OII. Royal Bank Of Canada restated a buy rating and set a $27.00 price target on shares of Oceaneering International in a report on Monday, October 30th. Piper Jaffray Companies lowered Oceaneering International from an overweight rating to a neutral rating in a research note on Friday, October 27th. J P Morgan Chase & Co lowered their price objective on Oceaneering International from $22.00 to $21.00 and set an underweight rating for the company in a research note on Tuesday, September 12th. Barclays PLC assumed coverage on Oceaneering International in a research note on Friday, October 6th. They issued an equal weight rating and a $28.00 price objective for the company. Finally, BidaskClub lowered Oceaneering International from a hold rating to a sell rating in a research note on Monday, August 14th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $24.84.

Oceaneering International (NYSE:OII) traded down $0.66 during midday trading on Thursday, reaching $20.68. The company’s stock had a trading volume of 1,646,500 shares, compared to its average volume of 1,393,742. The stock has a market cap of $2,032.41, a PE ratio of 689.33 and a beta of 1.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.67 and a quick ratio of 2.14. Oceaneering International has a fifty-two week low of $17.11 and a fifty-two week high of $32.12.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $476.12 million for the quarter, compared to analysts’ expectations of $511.14 million. Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. equities analysts predict that Oceaneering International will post -0.08 EPS for the current fiscal year.

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In other news, VP W Cardon Gerner sold 2,000 shares of Oceaneering International stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $25.76, for a total value of $51,520.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.91% of the company’s stock.

A number of hedge funds have recently made changes to their positions in OII. OppenheimerFunds Inc. grew its stake in Oceaneering International by 29.6% during the 1st quarter. OppenheimerFunds Inc. now owns 21,738 shares of the oil and gas company’s stock worth $589,000 after buying an additional 4,971 shares during the last quarter. BlackRock Inc. grew its stake in Oceaneering International by 10,555.3% during the 1st quarter. BlackRock Inc. now owns 8,513,376 shares of the oil and gas company’s stock worth $230,542,000 after buying an additional 8,433,478 shares during the last quarter. Amalgamated Bank grew its stake in Oceaneering International by 2.9% during the 1st quarter. Amalgamated Bank now owns 15,522 shares of the oil and gas company’s stock worth $420,000 after buying an additional 439 shares during the last quarter. Bank of America Corp DE grew its stake in Oceaneering International by 26.3% during the 1st quarter. Bank of America Corp DE now owns 564,130 shares of the oil and gas company’s stock worth $15,276,000 after buying an additional 117,393 shares during the last quarter. Finally, State Street Corp grew its stake in Oceaneering International by 0.7% during the 1st quarter. State Street Corp now owns 2,995,000 shares of the oil and gas company’s stock worth $81,101,000 after buying an additional 21,246 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).

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