Oceaneering International (NYSE:OII) Given New $27.00 Price Target at TD Cowen

Oceaneering International (NYSE:OII) had its price objective hoisted by research analysts at TD Cowen from $25.00 to $27.00 in a research note issued on Monday. The firm presently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price target would indicate a potential upside of 16.01% from the stock’s previous close.

OII has been the topic of several other research reports. Barclays upped their price objective on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Oceaneering International in a report on Wednesday, October 8th. Finally, Citigroup upped their price objective on shares of Oceaneering International from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.00.

Oceaneering International Stock Performance

Shares of OII opened at $23.27 on Monday. The firm’s fifty day simple moving average is $24.04 and its two-hundred day simple moving average is $21.77. Oceaneering International has a 12 month low of $15.46 and a 12 month high of $30.98. The stock has a market capitalization of $2.32 billion, a P/E ratio of 10.16 and a beta of 1.50. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.13. Oceaneering International had a net margin of 8.21% and a return on equity of 22.94%. The firm had revenue of $742.90 million for the quarter, compared to analyst estimates of $709.48 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts predict that Oceaneering International will post 1.78 EPS for the current year.

Insider Buying and Selling at Oceaneering International

In related news, CFO Alan R. Curtis sold 14,840 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total value of $361,502.40. Following the sale, the chief financial officer owned 155,259 shares in the company, valued at $3,782,109.24. This represents a 8.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oceaneering International

A number of institutional investors and hedge funds have recently made changes to their positions in OII. Ieq Capital LLC bought a new stake in Oceaneering International in the 1st quarter worth about $389,000. Principal Financial Group Inc. grew its position in Oceaneering International by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 539,234 shares of the oil and gas company’s stock worth $11,761,000 after purchasing an additional 12,085 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Oceaneering International by 1.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 326,978 shares of the oil and gas company’s stock worth $7,131,000 after purchasing an additional 4,950 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Oceaneering International in the 1st quarter worth about $662,000. Finally, Aigen Investment Management LP bought a new stake in Oceaneering International in the 1st quarter worth about $253,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.