Oceaneering International (NYSE:OII) Sets New 52-Week High – Time to Buy?

Oceaneering International, Inc. (NYSE:OII) shares hit a new 52-week high on Monday . The company traded as high as $32.65 and last traded at $32.28, with a volume of 42784 shares. The stock had previously closed at $32.19.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OII. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday, December 29th. Barclays boosted their target price on Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. TD Cowen boosted 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. Finally, Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Oceaneering International has a consensus rating of “Hold” and an average target price of $25.00.

Oceaneering International Trading Up 1.8%

The firm has a market cap of $3.27 billion, a PE ratio of 14.31 and a beta of 1.25. The firm has a fifty day simple moving average of $26.81 and a two-hundred day simple moving average of $24.70. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53.

Insider Transactions at Oceaneering International

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the company’s 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 completion of the transaction, the senior vice president directly owned 52,344 shares in the company, valued at approximately $1,379,264.40. This represents a 35.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Trading of Oceaneering International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Oceaneering International by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock worth $297,279,000 after acquiring an additional 187,707 shares during the period. Brown Advisory Inc. boosted its position in shares of Oceaneering International by 12.2% during the second quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock valued at $152,202,000 after purchasing an additional 799,718 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Oceaneering International by 8.1% during the third quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company’s stock valued at $90,270,000 after purchasing an additional 272,667 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Oceaneering International by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 3,285,951 shares of the oil and gas company’s stock worth $81,429,000 after purchasing an additional 98,333 shares during the period. Finally, Greenhouse Funds LLLP raised its holdings 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 worth $51,630,000 after purchasing an additional 223,724 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

About Oceaneering International

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.