Oceaneering International (NYSE:OII) Hits New 1-Year High – Should You Buy?

Oceaneering International, Inc. (NYSE:OII)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $40.21 and last traded at $39.9140, with a volume of 75822 shares. The stock had previously closed at $39.01.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. TD Cowen boosted their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Barclays raised their price objective on shares of Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Citigroup raised their price objective on shares of Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Oceaneering International has a consensus rating of “Hold” and an average price target of $36.67.

Oceaneering International Stock Performance

The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 11.63 and a beta of 1.16. The stock’s 50 day moving average price is $37.47 and its two-hundred day moving average price is $32.47.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The company had revenue of $692.43 million for the quarter, compared to analyst estimates of $671.35 million. During the same period last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts forecast that Oceaneering International, Inc. will post 1.89 EPS for the current year.

Insider Buying and Selling at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This represents a 1.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oceaneering International

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Oceaneering International by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after acquiring an additional 187,707 shares during the last quarter. State Street Corp grew its stake in Oceaneering International by 4.9% in the 4th quarter. State Street Corp now owns 4,647,252 shares of the oil and gas company’s stock valued at $111,673,000 after acquiring an additional 215,366 shares during the last quarter. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in Oceaneering International in the 4th quarter valued at about $94,847,000. American Century Companies Inc. grew its stake in Oceaneering International by 8.1% in the 3rd 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 acquiring an additional 272,667 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Oceaneering International by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,477,068 shares of the oil and gas company’s stock valued at $83,556,000 after acquiring an additional 191,117 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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.