Oceaneering International (NYSE:OII) Shares Up 7.4% – Still a Buy?

Oceaneering International, Inc. (NYSE:OII)’s share price was up 7.4% on Friday . The company traded as high as $51.00 and last traded at $51.5530. 1,618,261 shares traded hands during trading, an increase of 37% from the average daily volume of 1,181,438 shares. The stock had previously closed at $48.02.

Wall Street Analyst Weigh In

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

Oceaneering International Price Performance

The firm has a market capitalization of $5.17 billion, a PE ratio of 14.89 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.08 and a quick ratio of 1.79. The business’s 50 day moving average is $39.51 and its two-hundred day moving average is $35.88.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. Oceaneering International had a return on equity of 19.00% and a net margin of 12.19%.Oceaneering International’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. As a group, research analysts anticipate that Oceaneering International, Inc. will post 1.89 EPS for the current year.

Insider Buying and Selling

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Oceaneering International

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lido Advisors LLC raised its position in Oceaneering International by 2.8% in the 4th quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company’s stock worth $299,000 after purchasing an additional 335 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Oceaneering International by 0.7% during the fourth 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 buying an additional 380 shares during the last quarter. CSM Advisors LLC increased its holdings in shares of Oceaneering International by 3.1% in the third quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock worth $359,000 after buying an additional 428 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Oceaneering International by 2.9% in the 4th quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company’s stock valued at $470,000 after acquiring an additional 545 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of Oceaneering International by 5.8% in the 4th quarter. State of Wyoming now owns 11,299 shares of the oil and gas company’s stock valued at $272,000 after acquiring an additional 621 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

About Oceaneering International

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.