Oceaneering International (NYSE:OII) Downgraded to Neutral Rating by Citigroup

Citigroup downgraded shares of Oceaneering International (NYSE:OII) from a buy rating to a neutral rating in a report published on Friday, Marketbeat.com reports. The firm currently has $30.00 price target on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $22.00 to $26.00 in a report on Wednesday, December 18th. TD Cowen increased their target price on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Oceaneering International has an average rating of “Hold” and an average price target of $29.25.

Oceaneering International Stock Down 2.4 %

OII opened at $26.44 on Friday. The firm has a market cap of $2.67 billion, a P/E ratio of 20.03 and a beta of 2.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. The business has a 50 day moving average price of $27.19 and a 200 day moving average price of $26.06. Oceaneering International has a twelve month low of $18.95 and a twelve month high of $30.98.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The firm had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. Research analysts forecast that Oceaneering International will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in Oceaneering International by 10.5% in the 2nd quarter. Rhumbline Advisers now owns 285,656 shares of the oil and gas company’s stock valued at $6,759,000 after acquiring an additional 27,177 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Oceaneering International by 101.6% during the second quarter. Victory Capital Management Inc. now owns 550,077 shares of the oil and gas company’s stock valued at $13,015,000 after purchasing an additional 277,247 shares during the period. Arizona State Retirement System raised its stake in shares of Oceaneering International by 2.0% in the second quarter. Arizona State Retirement System now owns 28,222 shares of the oil and gas company’s stock valued at $668,000 after purchasing an additional 540 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Oceaneering International in the second quarter worth $38,000. Finally, Texas Permanent School Fund Corp boosted its stake in Oceaneering International by 14.0% during the second quarter. Texas Permanent School Fund Corp now owns 100,477 shares of the oil and gas company’s stock worth $2,377,000 after buying an additional 12,324 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.