Oceaneering International (NYSE:OII) Sets New 12-Month High – What’s Next?

Oceaneering International, Inc. (NYSE:OII)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.98 and last traded at $38.8520, with a volume of 1977032 shares changing hands. The stock had previously closed at $37.22.

Analyst Upgrades and Downgrades

OII has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday. Barclays boosted their price objective on Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday. Weiss Ratings raised Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, TD Cowen increased their price objective on Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Oceaneering International presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Oceaneering International Trading Up 4.4%

The business has a 50-day moving average price of $28.75 and a 200-day moving average price of $25.73. The company has a quick ratio of 1.68, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.86 billion, a P/E ratio of 11.10 and a beta of 1.26.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $668.57 million for the quarter, compared to the consensus estimate of $678.16 million. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 earnings per share. Analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Insider Transactions at Oceaneering International

In related news, SVP Jennifer Fremont Simons sold 29,155 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.35, for a total value of $768,234.25. Following the completion of the transaction, the senior vice president owned 52,344 shares of the company’s stock, valued at $1,379,264.40. This represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oceaneering International

Several large investors have recently modified their holdings of OII. Corient Private Wealth LLC lifted its position in shares of Oceaneering International by 20.1% during the 4th quarter. Corient Private Wealth LLC now owns 12,440 shares of the oil and gas company’s stock worth $299,000 after buying an additional 2,085 shares during the period. State of Tennessee Department of Treasury raised its stake in Oceaneering International by 7.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 52,577 shares of the oil and gas company’s stock worth $1,263,000 after acquiring an additional 3,533 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Oceaneering International during the fourth quarter worth $630,000. Mackenzie Financial Corp lifted its holdings in shares of Oceaneering International by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 15,246 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 1,275 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Oceaneering International by 2.9% in the 4th quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company’s stock valued at $470,000 after purchasing an additional 545 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

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.