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

Oceaneering International, Inc. (NYSE:OII) hit a new 52-week high on Wednesday . The stock traded as high as $41.49 and last traded at $41.1820, with a volume of 172126 shares changing hands. The stock had previously closed at $39.88.

Analyst Ratings Changes

Several analysts have issued reports on OII shares. TD Cowen boosted 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. Barclays increased their price target 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 lifted their price objective on Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Oceaneering International presently has an average rating of “Hold” and a consensus price target of $38.33.

Oceaneering International Stock Down 1.2%

The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44. The firm has a market cap of $4.06 billion, a PE ratio of 12.07 and a beta of 1.15. The stock has a fifty day simple moving average of $38.27 and a two-hundred day simple moving average of $34.52.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Roderick A. Larson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the sale, the chief executive officer 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Oceaneering International during the third quarter valued at $28,000. EverSource Wealth Advisors LLC increased its stake in 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 worth $30,000 after acquiring an additional 1,111 shares during the last quarter. Quarry LP bought a new position in Oceaneering International in the 3rd quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Oceaneering International in the 1st quarter valued at about $53,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Oceaneering International by 248.8% in 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 acquiring an additional 1,627 shares in the last quarter. 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.