Oceaneering International (NYSE:OII) Downgraded by StockNews.com

Oceaneering International (NYSE:OII) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, Barclays decreased their target price 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.

Oceaneering International Trading Up 0.2 %

Shares of NYSE:OII traded up $0.04 during trading on Thursday, reaching $23.37. 718,865 shares of the company traded hands, compared to its average volume of 787,444. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 24.60 and a beta of 2.47. Oceaneering International has a 52-week low of $14.99 and a 52-week high of $27.46. The company has a current ratio of 1.78, a quick ratio of 1.50 and a debt-to-equity ratio of 0.75. The business’s fifty day moving average is $21.26 and its 200-day moving average is $21.94.

Oceaneering International (NYSE:OII) last announced its earnings results on Thursday, February 22nd. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The business had revenue of $654.60 million for the quarter, compared to the consensus estimate of $624.81 million. Oceaneering International had a net margin of 4.02% and a return on equity of 14.00%. Oceaneering International’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 EPS. As a group, analysts forecast that Oceaneering International will post 1.54 EPS for the current year.

Hedge Funds Weigh In On Oceaneering International

A number of hedge funds and other institutional investors have recently made changes to their positions in OII. Hennessy Advisors Inc. raised its holdings in Oceaneering International by 541.1% in the fourth 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 in the last quarter. Vanguard Group Inc. raised its holdings in Oceaneering International by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 12,461,454 shares of the oil and gas company’s stock worth $265,180,000 after purchasing an additional 246,067 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Oceaneering International by 19.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 461,128 shares of the oil and gas company’s stock worth $9,813,000 after purchasing an additional 76,252 shares in the last quarter. Pineridge Advisors LLC bought a new position in Oceaneering International in the fourth quarter worth $44,000. Finally, Neo Ivy Capital Management bought a new position in Oceaneering International in the fourth quarter worth $44,000. Institutional investors 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.