Oceaneering International (NYSE:OII) Reaches New 12-Month High – Time to Buy?

Oceaneering International, Inc. (NYSE:OII) reached a new 52-week high on Wednesday . The stock traded as high as $28.54 and last traded at $28.4730, with a volume of 124915 shares. The stock had previously closed at $26.73.

Analyst Ratings Changes

OII has been the subject of several research analyst reports. TD Cowen lifted their price objective on Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Barclays raised their price objective on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

Oceaneering International Trading Down 0.7%

The business has a 50 day moving average of $25.41 and a 200 day moving average of $23.95. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 12.41 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.97 and a quick ratio of 1.68.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.13. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.The company had revenue of $742.90 million during the quarter, compared to analyst estimates of $709.48 million. During the same period in the previous year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $26.35, for a total value of $768,234.25. Following the sale, the senior vice president directly owned 52,344 shares in the company, valued at approximately $1,379,264.40. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OII. State of Alaska Department of Revenue increased its stake in Oceaneering International by 7.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 59,900 shares of the oil and gas company’s stock valued at $1,241,000 after buying an additional 3,903 shares during the last quarter. SG Americas Securities LLC boosted its position in Oceaneering International by 1,377.0% during the third quarter. SG Americas Securities LLC now owns 156,547 shares of the oil and gas company’s stock valued at $3,879,000 after purchasing an additional 145,948 shares during the last quarter. Greenhouse Funds LLLP grew its stake in Oceaneering International by 9.9% in the second quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock valued at $51,630,000 after purchasing an additional 223,724 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Oceaneering International by 27.5% in the 2nd quarter. Schroder Investment Management Group now owns 448,394 shares of the oil and gas company’s stock valued at $9,291,000 after buying an additional 96,795 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Oceaneering International during the second quarter worth $415,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.