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

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

Several other research firms also recently weighed in on OII. StockNews.com downgraded Oceaneering International from a buy rating to a hold rating in a research report on Friday, April 26th. Barclays reiterated an underweight rating and set a $21.00 price objective (down previously from $22.00) on shares of Oceaneering International in a research report on Tuesday, May 14th. Finally, Citigroup raised their target price on shares of Oceaneering International from $25.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, July 3rd.

Oceaneering International Trading Up 2.8 %

Shares of OII opened at $29.75 on Thursday. The stock has a market capitalization of $3.02 billion, a PE ratio of 28.07 and a beta of 2.39. The company’s fifty day moving average is $23.64 and its 200 day moving average is $22.61. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.45 and a current ratio of 1.72. Oceaneering International has a fifty-two week low of $18.67 and a fifty-two week high of $30.41.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $668.81 million during the quarter, compared to the consensus estimate of $656.87 million. Oceaneering International had a return on equity of 15.78% and a net margin of 4.87%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. Sell-side analysts expect that Oceaneering International will post 1.4 earnings per share for the current fiscal year.

Institutional Trading of Oceaneering International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Neo Ivy Capital Management bought a new position in shares of Oceaneering International in the fourth quarter worth about $44,000. Pineridge Advisors LLC bought a new position in Oceaneering International in the 4th quarter worth about $44,000. EntryPoint Capital LLC increased its position in shares of Oceaneering International by 105.2% during the first quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 1,124 shares during the period. CWM LLC increased its position in shares of Oceaneering International by 351.9% during the second quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,034 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Oceaneering International during the first quarter valued at approximately $105,000. Hedge funds and other 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.