Oceaneering International (NYSE:OII) Given New $27.00 Price Target at TD Cowen

Oceaneering International (NYSE:OII) had its price objective boosted by TD Cowen from $26.00 to $27.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

Other research analysts also recently issued reports about the stock. Barclays raised shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $22.00 to $26.00 in a research report on Wednesday, December 18th. Benchmark reissued a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Oceaneering International has a consensus rating of “Hold” and a consensus target price of $28.75.

Oceaneering International Price Performance

OII stock opened at $27.08 on Wednesday. The business has a 50 day moving average price of $27.14 and a 200 day moving average price of $26.05. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 20.52 and a beta of 2.41. Oceaneering International has a fifty-two week low of $18.95 and a fifty-two week high of $30.98.

Oceaneering International (NYSE:OII) last posted its 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 for the quarter, compared to analyst estimates of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. Equities research analysts anticipate that Oceaneering International will post 1.4 earnings per share for the current fiscal year.

Institutional Trading of Oceaneering International

Several hedge funds have recently modified their holdings of the business. Congress Asset Management Co. acquired a new stake in Oceaneering International in the third quarter valued at $38,819,000. Earnest Partners LLC lifted its stake in shares of Oceaneering International by 21.0% in the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock valued at $150,601,000 after purchasing an additional 1,105,263 shares during the period. Victory Capital Management Inc. boosted its holdings in 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 worth $13,015,000 after buying an additional 277,247 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new position in Oceaneering International during the third quarter worth about $6,106,000. Finally, American Century Companies Inc. increased its holdings in Oceaneering International by 13.4% in the second quarter. American Century Companies Inc. now owns 2,022,378 shares of the oil and gas company’s stock valued at $47,849,000 after buying an additional 239,701 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.