ValuEngine upgraded shares of Oceaneering International (NYSE:OII) from a sell rating to a hold rating in a report released on Tuesday morning.

Several other brokerages have also recently issued reports on OII. Jefferies Group raised shares of Oceaneering International from an underperform rating to a hold rating and lifted their price objective for the stock from $18.82 to $19.00 in a research note on Wednesday, March 14th. Cowen set a $27.00 price objective on shares of Oceaneering International and gave the stock a hold rating in a research note on Thursday, January 11th. Wells Fargo reissued an outperform rating and issued a $17.00 target price (down from $18.00) on shares of Oceaneering International in a research report on Monday, February 26th. Scotiabank reissued a sector perform rating on shares of Oceaneering International in a research report on Friday, January 12th. Finally, Scotia Howard Weill reissued a sector perform rating on shares of Oceaneering International in a research report on Friday, January 12th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $22.10.

Shares of OII opened at $21.42 on Tuesday. The company has a current ratio of 2.97, a quick ratio of 2.23 and a debt-to-equity ratio of 0.48. Oceaneering International has a 12-month low of $17.11 and a 12-month high of $27.55.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, April 25th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.08). The business had revenue of $416.00 million during the quarter, compared to analyst estimates of $426.79 million. Oceaneering International had a negative return on equity of 2.77% and a net margin of 6.60%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. research analysts predict that Oceaneering International will post -0.82 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ING Groep NV grew its position in Oceaneering International by 23.2% during the fourth quarter. ING Groep NV now owns 14,828 shares of the oil and gas company’s stock valued at $313,000 after purchasing an additional 2,793 shares in the last quarter. Foundry Partners LLC grew its position in Oceaneering International by 21.7% during the fourth quarter. Foundry Partners LLC now owns 17,985 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 3,210 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Oceaneering International by 28.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 16,706 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 3,748 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Oceaneering International during the fourth quarter valued at approximately $112,000. Finally, CoreCommodity Management LLC grew its position in Oceaneering International by 13.0% during the fourth quarter. CoreCommodity Management LLC now owns 46,471 shares of the oil and gas company’s stock valued at $982,000 after purchasing an additional 5,342 shares in the last quarter. 99.33% of the stock is currently owned by hedge funds and other institutional investors.

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Oceaneering International (NYSE:OII)

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