Oceaneering International

OII · NYSE

$44.07−$0.36 (−0.81%)TodayMarket closed · Oct 20, 7:48 PM ET

Prev close $44.43

OII analyst rating

HoldConsensus of 3 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold3
Underperform0
Sell0

12-month price target · 5 analysts

Average $46.92 (+6.5% upside)

Low: $38.38
Now: $44.07
High: $54.60

Upgrades and downgrades

The latest rating actions, newest first

OII analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Aug 11, 2026	Maintains	Neutral	$40.00 → $52.00	48%
Barclays	Jul 27, 2026	Maintains	Equal-Weight	$39.00 → $47.00	54%
Citigroup	Jun 18, 2026	Maintains	Neutral	$35.00 → $40.00	48%
Barclays	May 8, 2026	Maintains	Equal-Weight	$32.00 → $39.00	54%
TD Cowen	Apr 30, 2026	Maintains	Hold	$34.00 → $36.00	51%
Citigroup	Mar 10, 2026	Maintains	Neutral	$25.00 → $35.00	48%
Barclays	Feb 23, 2026	Maintains	Equal-Weight	$23.00 → $32.00	54%
TD Cowen	Nov 3, 2025	Maintains	Hold	$25.00 → $27.00	51%
Barclays	Oct 28, 2025	Maintains	Equal-Weight	$22.00 → $23.00	54%

The case for and against

Updated Jan 11, 2025

Bull case

Oceaneering International is experiencing a positive outlook driven by an increasing demand for its services and products, with higher margin backlog expected to enhance margins through 2026 and 2027. The anticipated 50% increase in offshore project final investment decisions (FIDs) over the next five years provides the company with significant revenue visibility beyond 2025, while rising rig rates further bolster its pricing power. Additionally, Oceaneering's successful booking of over $100 million in orders for its Max Mover autonomous forklifts from a major automotive company highlights its strong positioning within the estimated $5 billion total addressable market for this technology.

Bear case

Oceaneering International has historically benefited from high deepwater rig rates, which can drive increased demand for its remotely operated vehicles (ROVs), but the current market conditions suggest a downward trend in rates, with ROV pricing trailing historical highs by 20%. The financial outlook may be further strained by the firm's reliance on the volatile offshore oil and gas market, as fluctuations in commodity prices directly impact operational revenues and profit margins. Additionally, despite a segment realignment aimed at enhancing cost efficiency and synergy, the challenges faced in the oil and gas sector may hinder the company's ability to capitalize on growth opportunities within its diversified segments, including renewables and mobility solutions.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.