Barclays Has Lowered Expectations for Oceaneering International (NYSE:OII) Stock Price

Oceaneering International (NYSE:OII) had its price objective dropped by investment analysts at Barclays from $24.00 to $22.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the oil and gas company’s stock. Barclays‘s target price points to a potential downside of 9.98% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Citigroup increased their price objective on Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Benchmark restated a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a report on Friday, October 25th.

Oceaneering International Trading Up 0.2 %

Shares of OII opened at $24.44 on Thursday. The stock has a market capitalization of $2.47 billion, a P/E ratio of 18.52 and a beta of 2.35. Oceaneering International has a 1-year low of $18.67 and a 1-year high of $30.45. The company has a current ratio of 1.76, a quick ratio of 1.42 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $25.11 and its 200 day moving average price is $24.53.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The business had revenue of $679.81 million during the quarter, compared to analyst estimates of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. Oceaneering International’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Analysts expect that Oceaneering International will post 1.38 earnings per share for the current year.

Insider Buying and Selling

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the transaction, the director now directly owns 28,229 shares in the company, valued at $647,573.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Earl Childress sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total value of $257,000.00. Following the completion of the sale, the senior vice president now directly owns 57,351 shares in the company, valued at approximately $1,473,920.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen H. Beachy sold 3,300 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the completion of the sale, the director now owns 28,229 shares of the company’s stock, valued at approximately $647,573.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,975 shares of company stock valued at $585,413 over the last ninety days. 2.30% of the stock is owned by company insiders.

Institutional Trading of Oceaneering International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atria Investments Inc increased its position in Oceaneering International by 77.5% in the third quarter. Atria Investments Inc now owns 19,358 shares of the oil and gas company’s stock worth $481,000 after purchasing an additional 8,453 shares during the period. Beacon Harbor Wealth Advisors Inc. bought a new position in Oceaneering International during the third quarter worth about $6,106,000. Principal Financial Group Inc. boosted its holdings in Oceaneering International by 1.4% during the third quarter. Principal Financial Group Inc. now owns 510,880 shares of the oil and gas company’s stock worth $12,706,000 after buying an additional 7,037 shares during the last quarter. F M Investments LLC boosted its holdings in Oceaneering International by 34.5% during the third quarter. F M Investments LLC now owns 299,808 shares of the oil and gas company’s stock worth $7,457,000 after buying an additional 76,917 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Oceaneering International by 3,594.3% during the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,905 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.