Oceaneering International (NYSE:OII) Stock Bumped Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Oceaneering International (NYSE:OII) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks reports.

A number of other analysts also recently weighed in on OII. Barclays upped their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Citigroup upped their target price on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Oceaneering International Stock Performance

OII opened at $43.67 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. Oceaneering International has a 52-week low of $22.02 and a 52-week high of $54.25. The firm has a market cap of $4.35 billion, a P/E ratio of 12.55 and a beta of 1.25. The business’s fifty day moving average is $48.93 and its 200-day moving average is $42.40.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. The business had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.Oceaneering International’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Sell-side analysts expect that Oceaneering International will post 2.1 EPS for the current fiscal year.

Insider Activity

In other news, SVP Earl Childress sold 12,701 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the completion of the transaction, the senior vice president directly owned 22,876 shares in the company, valued at approximately $1,068,537.96. This represents a 35.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher Dyer sold 1,200 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total value of $57,180.00. Following the sale, the senior vice president directly owned 14,702 shares in the company, valued at approximately $700,550.30. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 32,901 shares of company stock valued at $1,542,864. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new stake in shares of Oceaneering International in the second quarter valued at about $855,000. Great Lakes Advisors LLC acquired a new position in shares of Oceaneering International in the second quarter worth approximately $445,000. Bank of America Corp DE bought a new stake in Oceaneering International in the second quarter valued at approximately $14,783,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Oceaneering International during the 2nd quarter valued at approximately $2,889,000. Finally, Fifth Third Bancorp increased its position in Oceaneering International by 6,782.5% during the 1st quarter. Fifth Third Bancorp now owns 29,526 shares of the oil and gas company’s stock valued at $1,047,000 after purchasing an additional 29,097 shares during the period. Institutional investors own 93.93% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.

Oceaneering’s subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.