Oceaneering International (NYSE:OII) Sets New 52-Week High – Here’s What Happened

Oceaneering International, Inc. (NYSE:OII) shares reached a new 52-week high on Monday . The stock traded as high as $53.98 and last traded at $53.81, with a volume of 372030 shares. The stock had previously closed at $52.20.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OII. Weiss Ratings cut shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup raised their target price on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. TD Cowen lifted their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Finally, Barclays boosted their price target on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.00.

Oceaneering International Trading Down 2.1%

The firm has a fifty day simple moving average of $43.73 and a 200-day simple moving average of $38.75. The firm has a market cap of $5.27 billion, a P/E ratio of 15.22 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The firm had revenue of $768.18 million during the quarter, compared to analysts’ expectations of $735.69 million. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. On average, equities research analysts expect that Oceaneering International, Inc. will post 2.1 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Christopher J. Dyer sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the transaction, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of Oceaneering International stock in a transaction on Friday, August 7th. The stock was 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. This represents a 12.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 26,901 shares of company stock valued at $1,277,904. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oceaneering International

A number of hedge funds and other institutional investors have recently modified their holdings of OII. Allworth Financial LP purchased a new stake in shares of Oceaneering International during the second quarter valued at approximately $42,000. Wilmington Savings Fund Society FSB purchased a new position in Oceaneering International in the third quarter worth $28,000. Quarry LP bought a new position in Oceaneering International in the 3rd quarter valued at $30,000. Public Employees Retirement System of Ohio bought a new position in Oceaneering International in the 2nd quarter valued at $54,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Oceaneering International by 335.6% during 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 purchasing an additional 1,111 shares during the last quarter. 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.