Oceaneering International (NYSE:OII) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Friday, Marketbeat Ratings reports. The firm currently has a $18.00 target price on the oil and gas company’s stock, up from their prior target price of $15.00. Jefferies Financial Group’s price target points to a potential upside of 13.85% from the company’s current price.

Several other research analysts have also issued reports on the stock. Goldman Sachs Group began coverage on shares of Oceaneering International in a report on Sunday, March 10th. They set a “neutral” rating and a $18.00 price target for the company. Cowen restated a “market perform” rating and set a $16.00 price target (down previously from $17.00) on shares of Oceaneering International in a report on Monday, March 4th. Citigroup set a $17.00 price target on shares of Oceaneering International and gave the stock a “hold” rating in a report on Tuesday, February 26th. SunTrust Banks set a $19.00 price target on shares of Oceaneering International and gave the stock a “hold” rating in a report on Tuesday, February 26th. Finally, Barclays upgraded shares of Oceaneering International from an “equal weight” rating to an “overweight” rating and set a $19.00 price target for the company in a report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Oceaneering International presently has an average rating of “Hold” and a consensus price target of $21.23.

Oceaneering International stock opened at $15.81 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.52 and a quick ratio of 2.12. Oceaneering International has a 52-week low of $10.74 and a 52-week high of $28.62. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -22.27 and a beta of 2.00.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, February 13th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.31. Oceaneering International had a negative net margin of 11.12% and a negative return on equity of 4.55%. The firm had revenue of $495.10 million during the quarter, compared to analyst estimates of $488.12 million. During the same quarter last year, the business earned ($0.08) EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Oceaneering International will post -0.89 earnings per share for the current year.

In related news, VP Alan R. Curtis acquired 5,000 shares of Oceaneering International stock in a transaction dated Friday, December 21st. The stock was bought at an average price of $11.50 per share, with a total value of $57,500.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David K. Lawrence acquired 2,500 shares of Oceaneering International stock in a transaction dated Friday, December 28th. The shares were bought at an average cost of $11.99 per share, with a total value of $29,975.00. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in OII. Bank of New York Mellon Corp grew its position in shares of Oceaneering International by 13.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,265,192 shares of the oil and gas company’s stock worth $32,212,000 after buying an additional 153,986 shares during the period. Strs Ohio grew its position in Oceaneering International by 330.0% in the 3rd quarter. Strs Ohio now owns 4,300 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 3,300 shares during the period. Wells Fargo & Company MN grew its position in Oceaneering International by 7.9% in the 3rd quarter. Wells Fargo & Company MN now owns 288,814 shares of the oil and gas company’s stock valued at $7,971,000 after purchasing an additional 21,152 shares during the period. Bessemer Group Inc. acquired a new stake in Oceaneering International in the 3rd quarter valued at $136,000. Finally, SG Americas Securities LLC grew its position in Oceaneering International by 41.1% in the 3rd quarter. SG Americas Securities LLC now owns 45,584 shares of the oil and gas company’s stock valued at $1,258,000 after purchasing an additional 13,286 shares during the period. 99.66% of the stock is owned by institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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Analyst Recommendations for Oceaneering International (NYSE:OII)

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