Oceaneering International (NYSE:OII) Sets New 52-Week Low – Here’s What Happened

Oceaneering International, Inc. (NYSE:OII)’s stock 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. The stock had previously closed at $20.73.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $22.00 to $26.00 in a research report on Wednesday, December 18th. Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. StockNews.com downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup lowered Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research report on Friday, January 10th. Finally, TD Cowen boosted their price objective on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.25.

Oceaneering International Price Performance

The company has a market cap of $2.18 billion, a PE ratio of 13.67 and a beta of 2.38. The stock has a fifty day moving average price of $25.34 and a 200-day moving average price of $25.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Oceaneering International by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,480,517 shares of the oil and gas company’s stock valued at $325,492,000 after buying an additional 69,337 shares during the period. State Street Corp raised its holdings in shares of Oceaneering International by 2.1% during the third quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock worth $129,847,000 after acquiring an additional 107,394 shares in the last quarter. Brown Advisory Inc. boosted its position in Oceaneering International by 22.5% during the fourth quarter. Brown Advisory Inc. now owns 5,129,668 shares of the oil and gas company’s stock valued at $133,782,000 after purchasing an additional 941,849 shares during the last quarter. FMR LLC grew its stake in Oceaneering International by 1.3% in the third quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock valued at $72,023,000 after purchasing an additional 36,593 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Oceaneering International by 14.3% in the 4th quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company’s stock worth $74,112,000 after purchasing an additional 355,290 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.