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

Oceaneering International, Inc. (NYSE:OII)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $40.21 and last traded at $39.9140, with a volume of 75822 shares. The stock had previously closed at $39.01.

Analyst Upgrades and Downgrades

OII has been the topic of several recent research reports. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. TD Cowen boosted their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. Barclays lifted their price target on shares of Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Zacks Research cut shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Oceaneering International has an average rating of “Hold” and a consensus target price of $36.67.

Oceaneering International Trading Up 0.3%

The company’s 50 day moving average price is $37.47 and its 200 day moving average price is $32.47. 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 firm has a market cap of $3.90 billion, a PE ratio of 11.63 and a beta of 1.16.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The business had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. During the same period in the previous year, the business posted $0.43 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts forecast that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Insider Transactions at Oceaneering International

In related 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 value of $191,350.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OII. Morgan Stanley Institutional Investment Advisors LLC purchased a new position in Oceaneering International in the fourth quarter worth approximately $94,847,000. Balyasny Asset Management L.P. lifted its stake in Oceaneering International by 916.6% in the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock worth $28,219,000 after acquiring an additional 1,227,950 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Oceaneering International by 94.7% in 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 last quarter. Tudor Investment Corp ET AL lifted its stake in Oceaneering International by 210.8% in the third quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock worth $12,190,000 after acquiring an additional 333,666 shares during the last quarter. Finally, Old West Investment Management LLC lifted its stake in Oceaneering International by 128.2% in the fourth quarter. Old West Investment Management LLC now owns 543,271 shares of the oil and gas company’s stock worth $13,055,000 after acquiring an additional 305,168 shares during the last quarter. Hedge funds and other 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.