Citigroup Boosts Oceaneering International (NYSE:OII) Price Target to $28.00

Oceaneering International (NYSE:OII) had its target price boosted by investment analysts at Citigroup from $25.00 to $28.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price target indicates a potential upside of 16.52% from the company’s current price.

OII has been the topic of several other research reports. StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Benchmark reiterated a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research note on Thursday, April 25th. Finally, Barclays restated an “underweight” rating and set a $21.00 target price (down previously from $22.00) on shares of Oceaneering International in a research note on Tuesday, May 14th.

Oceaneering International Trading Up 1.1 %

OII stock traded up $0.25 during trading on Wednesday, reaching $24.03. The company had a trading volume of 328,507 shares, compared to its average volume of 833,471. Oceaneering International has a 52 week low of $18.56 and a 52 week high of $27.46. The company has a market cap of $2.44 billion, a P/E ratio of 22.67 and a beta of 2.39. The business has a 50 day moving average of $22.84 and a 200 day moving average of $22.04. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.76 and a quick ratio of 1.45.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data 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). The business had revenue of $599.09 million during the quarter, compared to analysts’ expectations of $613.58 million. Oceaneering International had a return on equity of 14.82% and a net margin of 4.36%. As a group, sell-side analysts forecast that Oceaneering International will post 1.4 earnings per share for the current fiscal 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 the stock. Concurrent Investment Advisors LLC lifted its position in shares of Oceaneering International by 0.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 126,350 shares of the oil and gas company’s stock valued at $2,957,000 after acquiring an additional 465 shares during the period. Bleakley Financial Group LLC raised its holdings in Oceaneering International by 5.4% in the 1st quarter. Bleakley Financial Group LLC now owns 12,158 shares of the oil and gas company’s stock valued at $284,000 after acquiring an additional 628 shares during the last quarter. Natixis Advisors L.P. grew its stake in shares of Oceaneering International by 2.0% during the 3rd quarter. Natixis Advisors L.P. now owns 33,859 shares of the oil and gas company’s stock valued at $871,000 after buying an additional 659 shares during the period. Shell Asset Management Co. grew its stake in shares of Oceaneering International by 5.2% during the 1st quarter. Shell Asset Management Co. now owns 15,086 shares of the oil and gas company’s stock valued at $353,000 after buying an additional 749 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Oceaneering International by 3.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,757 shares of the oil and gas company’s stock valued at $463,000 after buying an additional 824 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.