Oceaneering International (NYSE:OII) Reaches New 1-Year High – Here’s What Happened

Oceaneering International, Inc. (NYSE:OII)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $44.46 and last traded at $44.41, with a volume of 176496 shares. The stock had previously closed at $42.82.

Analysts Set New Price Targets

A number of equities research analysts have commented on OII shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. Barclays upped their price objective on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Citigroup increased their target price on Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Finally, TD Cowen lifted their target price on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.33.

Oceaneering International Stock Performance

The company has a market capitalization of $4.44 billion, a P/E ratio of 13.22 and a beta of 1.15. 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 business’s fifty day simple moving average is $39.06 and its 200-day simple moving average is $35.43.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $692.43 million for the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The firm’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. As a group, equities analysts anticipate that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Oceaneering International

In related 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 transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Oceaneering International

Several hedge funds have recently modified their holdings of OII. Wilmington Savings Fund Society FSB purchased a new position in shares of Oceaneering International in the third quarter valued at $28,000. EverSource Wealth Advisors LLC increased its position in 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 worth $30,000 after purchasing an additional 1,111 shares during the last quarter. Quarry LP purchased a new stake in Oceaneering International during the third quarter valued at $30,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Oceaneering International during the first quarter valued at $53,000. Finally, Hantz Financial Services Inc. lifted its position in Oceaneering International by 248.8% during the fourth 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 owned by hedge funds and other 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.