Stock Traders Buy High Volume of Oceaneering International Call Options (NYSE:OII)

Oceaneering International, Inc. (NYSE:OII) saw unusually large options trading on Tuesday. Investors purchased 5,738 call options on the stock. This represents an increase of 1,313% compared to the average daily volume of 406 call options.

Wall Street Analysts Forecast Growth

OII has been the subject of several recent analyst reports. Barclays raised their target price on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a report 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 report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Oceaneering International currently has a consensus rating of “Hold” and an average price target of $25.00.

Oceaneering International Trading Down 2.3%

NYSE:OII traded down $0.75 on Tuesday, reaching $32.40. 452,348 shares of the stock traded hands, compared to its average volume of 1,087,184. Oceaneering International has a 1-year low of $15.46 and a 1-year high of $34.56. 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 company’s 50 day moving average is $27.65 and its 200-day moving average is $25.14. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 14.15 and a beta of 1.25.

Insider Activity at Oceaneering International

In related news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction 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 sale, the senior vice president directly owned 52,344 shares of the company’s stock, valued at approximately $1,379,264.40. The trade was a 35.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lido Advisors LLC grew its holdings in shares of Oceaneering International by 2.8% during the fourth quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company’s stock valued at $299,000 after buying an additional 335 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Oceaneering International by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 54,458 shares of the oil and gas company’s stock valued at $1,307,000 after acquiring an additional 380 shares in the last quarter. CSM Advisors LLC boosted its stake in Oceaneering International by 3.1% during the 3rd quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock valued at $359,000 after purchasing an additional 428 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Oceaneering International by 15.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,464 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 469 shares during the last quarter. Finally, Profund Advisors LLC increased its holdings in shares of Oceaneering International by 3.4% in the 2nd quarter. Profund Advisors LLC now owns 17,032 shares of the oil and gas company’s stock worth $353,000 after purchasing an additional 559 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

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.