Oceaneering International (NYSE:OII) Sets New 1-Year High – What’s Next?

Oceaneering International, Inc. (NYSE:OII) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $40.36 and last traded at $39.9040, with a volume of 939 shares traded. The stock had previously closed at $40.03.

Analysts Set New Price Targets

A number of equities analysts have commented on OII shares. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. TD Cowen increased their price target on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. Citigroup boosted their price objective on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Finally, Zacks Research downgraded Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Oceaneering International currently has a consensus rating of “Hold” and an average target price of $38.33.

Oceaneering International Stock Performance

The stock has a market capitalization of $4.04 billion, a P/E ratio of 12.01 and a beta of 1.16. The company’s 50-day moving average is $37.90 and its two-hundred day moving average is $33.62. The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44.

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

Insider Buying and Selling

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.27, for a total transaction of $191,350.00. Following the sale, the chief executive officer owned 397,279 shares of the company’s stock, valued at $15,203,867.33. The trade was a 1.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Oceaneering International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock valued at $1,312,000 after purchasing an additional 2,633 shares during the period. Empowered Funds LLC raised its stake in shares of Oceaneering International by 1.9% during the first quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock valued at $2,634,000 after purchasing an additional 2,310 shares in the last quarter. Strs Ohio bought a new stake in shares of Oceaneering International during the first quarter valued at about $168,000. Norges Bank acquired a new stake in Oceaneering International in the second quarter worth about $1,485,000. Finally, Invesco Ltd. grew its position in Oceaneering International by 8.0% in the 2nd quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock valued at $13,472,000 after buying an additional 48,382 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

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.