Oceaneering International, Inc. (NYSE:OII – Get Free Report)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $23.05, but opened at $23.91. Oceaneering International shares last traded at $22.99, with a volume of 397,988 shares traded.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on OII. Benchmark reiterated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research note on Thursday. Barclays lowered their target price on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Finally, StockNews.com downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research note on Friday.
Get Our Latest Research Report on OII
Oceaneering International Stock Up 1.4 %
Oceaneering International (NYSE:OII – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). Oceaneering International had a net margin of 4.36% and a return on equity of 14.82%. The business had revenue of $599.09 million during the quarter, compared to analysts’ expectations of $613.58 million. Research analysts expect that Oceaneering International, Inc. will post 1.54 EPS for the current year.
Institutional Trading of Oceaneering International
A number of institutional investors have recently modified their holdings of OII. Neo Ivy Capital Management purchased a new stake in shares of Oceaneering International in the fourth quarter valued at approximately $44,000. Pineridge Advisors LLC acquired a new position in Oceaneering International during the fourth quarter worth $44,000. Exchange Traded Concepts LLC acquired a new position in Oceaneering International during the third quarter worth $93,000. Meridian Management Co. acquired a new position in Oceaneering International during the third quarter worth $206,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Oceaneering International during the third quarter worth $206,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
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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