Oceaneering International Sees Unusually Large Options Volume (NYSE:OII)

Oceaneering International, Inc. (NYSE:OII) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 5,738 call options on the stock. This represents an increase of 1,313% compared to the average volume of 406 call options.

Oceaneering International Price Performance

Shares of OII opened at $32.43 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $27.75 and its two-hundred day moving average is $25.22. Oceaneering International has a twelve month low of $15.46 and a twelve month high of $34.56. The firm has a market capitalization of $3.24 billion, a PE ratio of 14.16 and a beta of 1.26.

Insider Activity at Oceaneering International

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $26.35, for a total transaction of $768,234.25. Following the completion of the transaction, the senior vice president directly owned 52,344 shares in the company, valued at $1,379,264.40. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Oceaneering International

Institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC bought a new position in Oceaneering International in the third quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Oceaneering International in the third quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares during the period. Quarry LP bought a new position in shares of Oceaneering International during the 3rd quarter valued at about $30,000. Finally, SBI Securities Co. Ltd. boosted its holdings in Oceaneering International by 255.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on OII shares. Barclays increased 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. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. TD Cowen raised their price target on Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

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.