Oceaneering International, Inc. (NYSE:OII) Sees Significant Increase in Short Interest

Oceaneering International, Inc. (NYSE:OII) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 4,470,000 shares, a growth of 20.8% from the June 30th total of 3,700,000 shares. Based on an average daily trading volume, of 848,900 shares, the short-interest ratio is presently 5.3 days. Approximately 4.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Oceaneering International

Institutional investors have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in shares of Oceaneering International during the 4th quarter valued at $44,000. Pineridge Advisors LLC purchased a new stake in Oceaneering International during the fourth quarter valued at about $44,000. EntryPoint Capital LLC increased its stake in Oceaneering International by 105.2% during the first quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 1,124 shares during the last quarter. CWM LLC increased its stake in Oceaneering International by 351.9% during the second quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,034 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Oceaneering International in the 1st quarter worth about $105,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup lifted their target price on shares of Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com lowered Oceaneering International from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Barclays reiterated an “underweight” rating and set a $21.00 target price (down previously from $22.00) on shares of Oceaneering International in a report on Tuesday, May 14th. Finally, Benchmark reissued a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Thursday.

Oceaneering International Trading Up 2.8 %

Shares of OII traded up $0.80 on Friday, hitting $29.75. 1,688,965 shares of the stock traded hands, compared to its average volume of 899,487. Oceaneering International has a 1 year low of $18.67 and a 1 year high of $30.41. The stock’s 50 day moving average is $23.64 and its two-hundred day moving average is $22.64. The firm has a market capitalization of $3.02 billion, a P/E ratio of 28.07 and a beta of 2.39. The company has a quick ratio of 1.45, a current ratio of 1.72 and a debt-to-equity ratio of 0.73.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). The business had revenue of $668.81 million for the quarter, compared to analyst estimates of $656.87 million. Oceaneering International had a return on equity of 15.78% and a net margin of 4.87%. Oceaneering International’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. As a group, sell-side analysts predict that Oceaneering International will post 1.4 earnings per share for the current year.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.