Benchmark Reaffirms Buy Rating for Oceaneering International (NYSE:OII)

Benchmark reaffirmed their buy rating on shares of Oceaneering International (NYSE:OII) in a research report sent to investors on Thursday, Benzinga reports. Benchmark currently has a $34.00 price target on the oil and gas company’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Oceaneering International from a hold rating to a buy rating in a research note on Thursday, April 18th. Barclays dropped their price objective 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.

Oceaneering International Price Performance

Shares of NYSE:OII opened at $24.90 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.50 and a debt-to-equity ratio of 0.76. The stock’s fifty day simple moving average is $22.54 and its two-hundred day simple moving average is $21.78. Oceaneering International has a 1-year low of $14.99 and a 1-year high of $27.46. The stock has a market cap of $2.52 billion, a PE ratio of 23.49 and a beta of 2.49.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.16). Oceaneering International had a net margin of 4.36% and a return on equity of 14.82%. The company had revenue of $599.09 million for the quarter, compared to the consensus estimate of $613.58 million. As a group, analysts forecast that Oceaneering International will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

A number of hedge funds have recently made changes to their positions in OII. Loomis Sayles & Co. L P bought a new stake in shares of Oceaneering International during the 3rd quarter worth $30,757,000. Hennessy Advisors Inc. raised its stake in shares of Oceaneering International by 541.1% during the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after purchasing an additional 829,000 shares during the period. Bank of New York Mellon Corp increased its holdings in Oceaneering International by 79.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock worth $42,704,000 after acquiring an additional 734,518 shares during the last quarter. Norges Bank purchased a new stake in Oceaneering International in the 4th quarter worth about $15,161,000. Finally, FMR LLC increased its holdings in Oceaneering International by 18.9% in the 3rd quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock worth $114,134,000 after acquiring an additional 705,534 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

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.