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

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

Analyst Upgrades and Downgrades

OII has been the topic of a number of research reports. TD Cowen boosted their target price 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. Zacks Research lowered shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Citigroup boosted their price objective on shares of Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. Finally, Barclays increased their target price on shares of Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.33.

Oceaneering International Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08. The firm’s 50-day moving average price is $38.02 and its two-hundred day moving average price is $33.80. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 12.02 and a beta of 1.16.

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 (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The business had revenue of $692.43 million during the quarter, compared to analyst estimates of $671.35 million. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.43 EPS. Sell-side analysts predict that Oceaneering International, Inc. will post 1.89 earnings per share for the current year.

Insider Buying and Selling at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the transaction, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at approximately $15,203,867.33. This represents a 1.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Oceaneering International

Large investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Oceaneering International during the third quarter valued at $28,000. Quarry LP bought a new stake in shares of Oceaneering International in the 3rd quarter worth about $30,000. EverSource Wealth Advisors LLC increased its position in shares of Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 1,111 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Oceaneering International during the 1st quarter valued at about $53,000. Finally, Hantz Financial Services Inc. lifted its holdings in Oceaneering International by 248.8% during the 4th quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 1,627 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

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.