Oceaneering International (NYSE:OII) Stock Price Up 4.7% – Still a Buy?

Oceaneering International, Inc. (NYSE:OII)’s stock price shot up 4.7% on Thursday . The company traded as high as $50.67 and last traded at $50.7450. 409,573 shares traded hands during trading, a decline of 64% from the average session volume of 1,134,654 shares. The stock had previously closed at $48.49.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OII shares. Weiss Ratings upgraded Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup increased their price target on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Finally, Barclays boosted their price objective on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Oceaneering International Stock Performance

The stock has a market capitalization of $5.04 billion, a PE ratio of 14.56 and a beta of 1.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. The firm has a 50 day moving average of $47.93 and a 200-day moving average of $40.88.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.17. The company had revenue of $768.18 million for the quarter, compared to analysts’ expectations of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. Research analysts forecast that Oceaneering International, Inc. will post 2.1 earnings per share for the current year.

Insider Activity at Oceaneering International

In other news, Director Paul B. Murphy, Jr. sold 10,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $48.37, for a total transaction of $483,700.00. Following the transaction, the director directly owned 68,916 shares in the company, valued at $3,333,466.92. The trade was a 12.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Christopher J. Dyer sold 1,200 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total transaction of $57,180.00. Following the completion of the transaction, the senior vice president directly owned 14,702 shares in the company, valued at $700,550.30. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,901 shares of company stock worth $1,277,904 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Oceaneering International in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares in the last quarter. Quarry LP bought a new stake in shares of Oceaneering International in the 3rd quarter valued at approximately $30,000. Integrated Wealth Concepts LLC acquired a new position in Oceaneering International in the second quarter worth approximately $35,000. Finally, Allworth Financial LP bought a new position in Oceaneering International during the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.