Oceaneering International (NYSE:OII) Reaches New 12-Month Low – Here’s What Happened

Oceaneering International, Inc. (NYSE:OII)’s share price hit a new 52-week low on Tuesday . The company traded as low as $19.86 and last traded at $19.82, with a volume of 14517 shares traded. The stock had previously closed at $20.73.

Analysts Set New Price Targets

OII has been the topic of a number of analyst reports. Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Citigroup lowered Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, January 10th. TD Cowen upped their price objective on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Barclays dropped their target price on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $28.25.

Oceaneering International Stock Down 0.8 %

The company has a current ratio of 1.74, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $25.14 and a two-hundred day simple moving average of $25.78. The company has a market cap of $2.17 billion, a PE ratio of 13.56 and a beta of 2.38.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $713.45 million during the quarter, compared to analysts’ expectations of $681.60 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. As a group, equities research analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Institutional Investors Weigh In On Oceaneering International

A number of institutional investors and hedge funds have recently made changes to their positions in OII. R Squared Ltd acquired a new position in Oceaneering International during the 4th quarter worth approximately $40,000. Farther Finance Advisors LLC increased its stake in Oceaneering International by 3,594.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,905 shares during the period. Millburn Ridgefield Corp purchased a new stake in shares of Oceaneering International in the third quarter valued at about $57,000. Tower Research Capital LLC TRC increased its stake in shares of Oceaneering International by 191.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company’s stock worth $85,000 after acquiring an additional 2,131 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Oceaneering International by 354.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock worth $104,000 after acquiring an additional 3,157 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.