Oceaneering International (NYSE:OII) Hits New 52-Week High After Analyst Upgrade

Oceaneering International, Inc. (NYSE:OII)’s stock price reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $39.00 to $47.00. Barclays currently has an equal weight rating on the stock. Oceaneering International traded as high as $53.98 and last traded at $53.97, with a volume of 96378 shares. The stock had previously closed at $52.73.

OII has been the subject of several other research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. Citigroup boosted their target price on shares of Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, TD Cowen raised their target price 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. One equities research 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 currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Insider Activity at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.27, for a total transaction of $191,350.00. Following the completion of the sale, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Oceaneering International

A number of hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Oceaneering International in the third quarter worth about $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Oceaneering International by 335.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 1,111 shares during the period. Quarry LP purchased a new stake in shares of Oceaneering International in the 3rd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Oceaneering International in the 1st quarter worth approximately $53,000. Finally, Hantz Financial Services Inc. boosted its stake in Oceaneering International by 248.8% in the 4th quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 1,627 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Performance

The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $5.32 billion, a PE ratio of 15.34 and a beta of 1.15. The firm’s 50-day simple moving average is $39.81 and its two-hundred day simple moving average is $36.07.

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.