Oceaneering International (NYSE:OII) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Oceaneering International, Inc. (NYSE:OII) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.24 and traded as high as $24.99. Oceaneering International shares last traded at $24.4450, with a volume of 766,112 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OII. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Barclays upped their target price on Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Citigroup raised their price target on Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

Oceaneering International Trading Down 0.7%

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 stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 10.61 and a beta of 1.29. The firm has a 50-day moving average of $24.27 and a 200 day moving average of $23.24.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.13. The company had revenue of $742.90 million during the quarter, compared to analyst estimates of $709.48 million. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, equities analysts predict that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Oceaneering International

Several large investors have recently bought and sold shares of OII. CSM Advisors LLC lifted its stake in shares of Oceaneering International by 3.1% in the 3rd quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock worth $359,000 after acquiring an additional 428 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Oceaneering International by 15.7% during the third quarter. Smartleaf Asset Management LLC now owns 3,464 shares of the oil and gas company’s stock valued at $87,000 after acquiring an additional 469 shares during the period. Profund Advisors LLC raised its holdings in Oceaneering International by 3.4% during the second 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. Bessemer Group Inc. lifted its position in Oceaneering International by 47.5% in the third quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 629 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Oceaneering International by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 93,342 shares of the oil and gas company’s stock valued at $1,934,000 after purchasing an additional 634 shares in the last quarter. Institutional investors and hedge funds 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.