Oceaneering International (NYSE:OII) Sets New 52-Week High – Still a Buy?

Oceaneering International, Inc. (NYSE:OII)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $31.78 and last traded at $31.4550, with a volume of 218999 shares traded. The stock had previously closed at $30.53.

Wall Street Analysts Forecast Growth

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

Oceaneering International Stock Down 3.9%

The firm has a market capitalization of $2.97 billion, a PE ratio of 13.00 and a beta of 1.26. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average of $26.55 and a two-hundred day moving average of $24.55.

Insider Transactions at Oceaneering International

In related news, SVP Jennifer Fremont Simons sold 29,155 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.35, for a total value of $768,234.25. Following the transaction, the senior vice president owned 52,344 shares in the company, valued at approximately $1,379,264.40. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

A number of hedge funds have recently made changes to their positions in OII. SummerHaven Investment Management LLC acquired a new position in shares of Oceaneering International in the third quarter worth about $967,000. SG Americas Securities LLC grew its stake in Oceaneering International by 1,377.0% during the 3rd quarter. SG Americas Securities LLC now owns 156,547 shares of the oil and gas company’s stock valued at $3,879,000 after purchasing an additional 145,948 shares in the last quarter. Greenhouse Funds LLLP increased its holdings in Oceaneering International by 9.9% during the 2nd quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock worth $51,630,000 after purchasing an additional 223,724 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Oceaneering International by 27.5% in the 2nd quarter. Schroder Investment Management Group now owns 448,394 shares of the oil and gas company’s stock valued at $9,291,000 after purchasing an additional 96,795 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Oceaneering International in the 2nd quarter valued at approximately $415,000. Hedge funds and other 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.