Shares of Oceaneering International (NYSE:OII) fell 5.2% on Wednesday . The stock traded as low as $16.16 and last traded at $16.28. 887,355 shares were traded during mid-day trading, a decline of 20% from the average session volume of 1,106,951 shares. The stock had previously closed at $17.17.

Several brokerages have recently weighed in on OII. ValuEngine lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Seaport Global Securities upgraded Oceaneering International from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, May 7th. Barclays reaffirmed a “buy” rating and set a $21.00 target price on shares of Oceaneering International in a report on Sunday, May 5th. Cowen reaffirmed a “market perform” rating and set a $19.00 target price (up from $16.00) on shares of Oceaneering International in a report on Friday, May 3rd. Finally, Jefferies Financial Group raised Oceaneering International from a “hold” rating to a “buy” rating and upped their target price for the company from $15.00 to $18.00 in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $21.71.

The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -22.93 and a beta of 2.07. 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 (NYSE:OII) last posted its quarterly earnings results on Monday, April 29th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.21. The firm had revenue of $493.89 million for the quarter, compared to analyst estimates of $466.33 million. Oceaneering International had a negative return on equity of 3.64% and a negative net margin of 9.46%. Oceaneering International’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.41) earnings per share. As a group, equities research analysts anticipate that Oceaneering International will post -0.73 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of OII. JPMorgan Chase & Co. increased its position in Oceaneering International by 117.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 273,818 shares of the oil and gas company’s stock worth $7,558,000 after purchasing an additional 148,157 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Oceaneering International by 11.1% during the 4th quarter. Bank of Montreal Can now owns 61,074 shares of the oil and gas company’s stock valued at $739,000 after acquiring an additional 6,105 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Oceaneering International by 21.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the oil and gas company’s stock valued at $82,000 after acquiring an additional 1,189 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Oceaneering International by 1.1% during the 4th quarter. Arizona State Retirement System now owns 70,721 shares of the oil and gas company’s stock valued at $856,000 after acquiring an additional 758 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Oceaneering International by 4.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 16,588 shares of the oil and gas company’s stock valued at $201,000 after acquiring an additional 700 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

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About Oceaneering International (NYSE:OII)

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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