Oceaneering International (NYSE:OII) Reaches New 12-Month High – Still a Buy?

Oceaneering International, Inc. (NYSE:OII) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $32.65 and last traded at $32.28, with a volume of 42784 shares. The stock had previously closed at $32.19.

Analyst Upgrades and Downgrades

OII has been the topic of a number of recent analyst reports. TD Cowen raised their price target on shares of Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday, December 29th. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Barclays lifted their price objective on shares of Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Oceaneering International Stock Performance

The company has a quick ratio of 1.68, a current ratio of 1.97 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $3.27 billion, a PE ratio of 14.31 and a beta of 1.25. The company has a 50-day moving average price of $26.81 and a two-hundred day moving average price of $24.70.

Insider Activity

In related news, SVP Jennifer Fremont Simons sold 29,155 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the sale, the senior vice president owned 52,344 shares of the company’s stock, valued at approximately $1,379,264.40. This represents a 35.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Trading of Oceaneering International

Several institutional investors and hedge funds have recently made changes to their positions in OII. Vanguard Group Inc. grew its position in Oceaneering International by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock worth $297,279,000 after acquiring an additional 187,707 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Oceaneering International by 12.2% during the 2nd quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock valued at $152,202,000 after purchasing an additional 799,718 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Oceaneering International by 8.1% during the 3rd quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company’s stock valued at $90,270,000 after buying an additional 272,667 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Oceaneering International by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,285,951 shares of the oil and gas company’s stock worth $81,429,000 after buying an additional 98,333 shares during the last quarter. Finally, Greenhouse Funds LLLP boosted its stake in Oceaneering International by 9.9% in the second quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock worth $51,630,000 after buying an additional 223,724 shares in the last quarter. Hedge funds and other institutional investors 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.