Oceaneering International (NYSE:OII) Sets New 1-Year High – Should You Buy?

Shares of Oceaneering International, Inc. (NYSE:OII) reached a new 52-week high on Tuesday . The company traded as high as $43.92 and last traded at $43.2380, with a volume of 837731 shares. The stock had previously closed at $42.10.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OII shares. Citigroup upped their price target on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. TD Cowen increased their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Finally, Barclays raised their price objective on shares of Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Oceaneering International presently has a consensus rating of “Hold” and an average price target of $38.33.

Oceaneering International Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08. The stock’s 50-day moving average is $38.51 and its 200 day moving average is $34.78. The firm has a market cap of $4.31 billion, a P/E ratio of 12.83 and a beta of 1.15.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The business had revenue of $692.43 million for the quarter, compared to the consensus estimate of $671.35 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, research analysts predict that Oceaneering International, Inc. will post 1.89 earnings per share for the current year.

Insider Activity at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $38.27, for a total transaction of $191,350.00. Following the transaction, the chief executive officer owned 397,279 shares in the company, valued at $15,203,867.33. The trade was a 1.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Oceaneering International

Several hedge funds have recently bought and sold shares of the stock. Leuthold Group LLC acquired a new position in shares of Oceaneering International in the fourth quarter valued at approximately $3,548,000. JPMorgan Chase & Co. raised its holdings in shares of Oceaneering International by 94.7% during the third quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company’s stock worth $18,930,000 after acquiring an additional 371,586 shares during the period. Vanguard Group Inc. lifted its position in Oceaneering International by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after acquiring an additional 187,707 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in Oceaneering International by 210.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock valued at $12,190,000 after acquiring an additional 333,666 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in Oceaneering International in the 4th quarter worth $5,489,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.