Oceaneering International (OII) Upgraded by Seaport Global Securities to Buy

Oceaneering International (NYSE:OII) was upgraded by stock analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Briefing.com Automated Import reports. The firm presently has a $23.00 target price on the oil and gas company’s stock. Seaport Global Securities’ price target suggests a potential upside of 17.29% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Barclays reissued a “buy” rating and set a $21.00 price target on shares of Oceaneering International in a research report on Sunday. Cowen reissued a “market perform” rating and set a $19.00 price target (up from $16.00) on shares of Oceaneering International in a research report on Friday. ValuEngine raised Oceaneering International from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Jefferies Financial Group raised Oceaneering International from a “hold” rating to a “buy” rating and upped their price target for the company from $15.00 to $18.00 in a research report on Friday, March 15th. Finally, Goldman Sachs Group began coverage on Oceaneering International in a research report on Sunday, March 10th. They set a “neutral” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.71.

Oceaneering International stock opened at $19.61 on Tuesday. The company has a market cap of $1.89 billion, a PE ratio of -27.62 and a beta of 2.09. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.44 and a quick ratio of 2.03. Oceaneering International has a 52 week low of $10.74 and a 52 week high of $28.62.

Oceaneering International (NYSE:OII) last released its earnings results on Monday, April 29th. The oil and gas company reported ($0.24) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.21. The company had revenue of $493.89 million during the quarter, compared to analysts’ expectations of $466.33 million. Oceaneering International had a negative return on equity of 3.64% and a negative net margin of 9.46%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.41) EPS. As a group, analysts forecast that Oceaneering International will post -0.91 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of OII. Crossmark Global Holdings Inc. increased its position in Oceaneering International by 4.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 16,588 shares of the oil and gas company’s stock worth $201,000 after buying an additional 700 shares during the period. Arizona State Retirement System increased its position in Oceaneering International by 1.1% in the fourth quarter. Arizona State Retirement System now owns 70,721 shares of the oil and gas company’s stock worth $856,000 after buying an additional 758 shares during the period. Retirement Systems of Alabama increased its position in Oceaneering International by 0.7% in the first quarter. Retirement Systems of Alabama now owns 128,661 shares of the oil and gas company’s stock worth $2,029,000 after buying an additional 906 shares during the period. Bbva Compass Bancshares Inc. increased its position in Oceaneering International by 12.7% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 10,049 shares of the oil and gas company’s stock worth $122,000 after buying an additional 1,131 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Oceaneering International by 21.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the oil and gas company’s stock worth $82,000 after buying an additional 1,189 shares during the period.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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Analyst Recommendations for Oceaneering International (NYSE:OII)

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