Oceaneering International (NYSE:OII) was downgraded by investment analysts at Jefferies Group from a “hold” rating to an “underperform” rating in a research report issued on Thursday, January 4th, Marketbeat.com reports. They currently have a $18.00 target price on the oil and gas company’s stock. Jefferies Group’s price target points to a potential downside of 12.62% from the company’s current price. Jefferies Group also issued estimates for Oceaneering International’s FY2020 earnings at $0.55 EPS.

A number of other research firms have also commented on OII. Royal Bank of Canada set a $22.00 price objective on Oceaneering International and gave the company a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research raised Oceaneering International from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Piper Jaffray Companies lowered Oceaneering International from an “overweight” rating to a “neutral” rating in a research note on Friday, October 27th. JPMorgan Chase & Co. reduced their price objective on Oceaneering International from $22.00 to $21.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 12th. Finally, Barclays assumed coverage on Oceaneering International in a research note on Friday, October 6th. They issued an “equal weight” rating and a $28.00 price objective on the stock. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.46.

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Shares of Oceaneering International (OII) traded down $0.43 during mid-day trading on Thursday, hitting $20.60. The stock had a trading volume of 162,386 shares, compared to its average volume of 1,302,877. The company has a current ratio of 2.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $2,145.43, a PE ratio of -108.84 and a beta of 1.63. Oceaneering International has a twelve month low of $17.11 and a twelve month high of $29.53.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Oceaneering International by 1.0% during the second quarter. Vanguard Group Inc. now owns 8,459,942 shares of the oil and gas company’s stock worth $193,226,000 after purchasing an additional 81,313 shares during the period. Dimensional Fund Advisors LP raised its position in Oceaneering International by 17.4% during the third quarter. Dimensional Fund Advisors LP now owns 4,936,686 shares of the oil and gas company’s stock valued at $129,688,000 after buying an additional 731,348 shares during the period. Eaton Vance Management raised its position in Oceaneering International by 20.4% during the second quarter. Eaton Vance Management now owns 3,068,529 shares of the oil and gas company’s stock valued at $70,085,000 after buying an additional 519,289 shares during the period. Lazard Asset Management LLC raised its position in Oceaneering International by 3.8% during the second quarter. Lazard Asset Management LLC now owns 2,233,521 shares of the oil and gas company’s stock valued at $51,013,000 after buying an additional 80,740 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Oceaneering International by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 2,231,141 shares of the oil and gas company’s stock valued at $58,612,000 after buying an additional 41,844 shares during the period. 99.69% of the stock is currently owned by institutional investors.

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About Oceaneering International

Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).

Analyst Recommendations for Oceaneering International (NYSE:OII)

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