Oceaneering International (NYSE:OII) Sets New 12-Month High – Should You Buy?

Oceaneering International, Inc. (NYSE:OII)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.93 and last traded at $29.06, with a volume of 1394767 shares trading hands. The stock had previously closed at $29.17.

Wall Street Analyst Weigh In

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

Oceaneering International Stock Performance

The company has a quick ratio of 1.68, a current ratio of 1.97 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average is $25.63 and its two-hundred day moving average is $24.09. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 12.69 and a beta of 1.24.

Insider Activity

In related news, SVP Jennifer Fremont Simons sold 29,155 shares of the firm’s stock in a transaction dated 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 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 position. The sale 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 Trading of Oceaneering International

A number of hedge funds have recently made changes to their positions in OII. Brown Advisory Inc. increased its holdings in shares of Oceaneering International by 12.2% during the 2nd quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock worth $152,202,000 after acquiring an additional 799,718 shares during the last quarter. American Century Companies Inc. boosted its position in 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 worth $90,270,000 after purchasing an additional 272,667 shares during the period. Dimensional Fund Advisors LP boosted its position in Oceaneering International by 3.1% during 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. Greenhouse Funds LLLP increased its holdings in shares of 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 during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of Oceaneering International by 916.6% in the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock valued at $28,219,000 after purchasing an additional 1,227,950 shares during the period. 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.