Oceaneering International (NYSE:OII – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.
Separately, Barclays cut their price target on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th.
Check Out Our Latest Report on OII
Oceaneering International Stock Performance
Oceaneering International (NYSE:OII – Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The firm had revenue of $654.60 million for the quarter, compared to analysts’ expectations of $624.81 million. Oceaneering International had a net margin of 4.02% and a return on equity of 14.00%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. Equities research analysts forecast that Oceaneering International will post 1.54 EPS for the current fiscal year.
Hedge Funds Weigh In On Oceaneering International
Several large investors have recently modified their holdings of OII. Point72 Hong Kong Ltd increased its position in shares of Oceaneering International by 250.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,804 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 2,003 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Oceaneering International in the fourth quarter valued at $31,000. Chilton Capital Management LLC purchased a new stake in shares of Oceaneering International in the first quarter valued at $35,000. Neo Ivy Capital Management purchased a new stake in shares of Oceaneering International in the fourth quarter valued at $44,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Oceaneering International in the fourth quarter valued at $44,000. Institutional investors own 93.93% of the company’s stock.
Oceaneering International Company Profile
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.
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