Oceaneering International (NYSE:OII) Share Price Crosses Above 200 Day Moving Average After Analyst Downgrade

Oceaneering International, Inc. (NYSE:OII) shares passed above its two hundred day moving average during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock has a two hundred day moving average of $39.93 and traded as high as $40.79. Oceaneering International shares last traded at $40.3080, with a volume of 1,433,820 shares changing hands.

Other equities research analysts also recently issued research reports about the stock. Barclays increased their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Citigroup boosted their price objective on shares of Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings cut Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Oceaneering International has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, SVP Earl Childress sold 12,701 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $46.71, for a total value of $593,263.71. Following the sale, the senior vice president owned 22,876 shares in the company, valued at approximately $1,068,537.96. The trade was a 35.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $48.37, for a total value of $483,700.00. Following the transaction, the director directly owned 68,916 shares of the company’s stock, valued at approximately $3,333,466.92. This trade represents a 12.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,901 shares of company stock valued at $1,542,864 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Oceaneering International

A number of hedge funds and other institutional investors have recently made changes to their positions in OII. Allworth Financial LP increased its holdings in shares of Oceaneering International by 63.2% during the second quarter. Allworth Financial LP now owns 1,046 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 405 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Oceaneering International during the third quarter worth approximately $26,000. Carlson Capital L.P. lifted its holdings in shares of Oceaneering International by 2.5% in the 1st quarter. Carlson Capital L.P. now owns 32,800 shares of the oil and gas company’s stock worth $1,163,000 after purchasing an additional 800 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Oceaneering International in the 2nd quarter worth $35,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Oceaneering International by 3.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,018 shares of the oil and gas company’s stock worth $958,000 after purchasing an additional 885 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Trading Up 2.6%

The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 12.25 and a beta of 1.25. The firm’s 50-day moving average is $47.11 and its 200-day moving average is $39.93. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.40.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The business had revenue of $784.55 million for the quarter, compared to analyst estimates of $775.93 million. Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. As a group, sell-side analysts anticipate that Oceaneering International, Inc. will post 2.10 EPS for the current fiscal year.

About Oceaneering International

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.