Oceaneering International (NYSE:OII) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 5,350,000 shares, a growth of 20.2% from the January 15th total of 4,450,000 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is currently 3.5 days.

OII has been the topic of a number of analyst reports. Bank of America initiated coverage on shares of Oceaneering International in a research note on Tuesday, November 12th. They set a “buy” rating and a $17.00 price objective on the stock. Evercore ISI raised shares of Oceaneering International from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $16.00 to $17.00 in a research note on Thursday, December 12th. ValuEngine cut shares of Oceaneering International from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Bernstein Bank initiated coverage on shares of Oceaneering International in a research note on Tuesday, January 14th. They set an “underperform” rating and a $12.30 price objective on the stock. Finally, Wolfe Research initiated coverage on shares of Oceaneering International in a research note on Wednesday, November 27th. They set an “outperform” rating and a $18.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Oceaneering International presently has an average rating of “Hold” and an average target price of $17.69.

A number of institutional investors have recently added to or reduced their stakes in OII. First Trust Advisors LP grew its stake in Oceaneering International by 141.7% in the 1st quarter. First Trust Advisors LP now owns 140,671 shares of the oil and gas company’s stock valued at $2,218,000 after acquiring an additional 82,474 shares during the period. Morgan Stanley grew its stake in Oceaneering International by 26.8% in the 2nd quarter. Morgan Stanley now owns 173,027 shares of the oil and gas company’s stock valued at $3,527,000 after acquiring an additional 36,524 shares during the period. Royal Bank of Canada grew its stake in Oceaneering International by 778.7% in the 2nd quarter. Royal Bank of Canada now owns 38,116 shares of the oil and gas company’s stock valued at $777,000 after acquiring an additional 33,778 shares during the period. State of Alaska Department of Revenue acquired a new stake in Oceaneering International in the 3rd quarter valued at $238,000. Finally, Cerebellum GP LLC acquired a new stake in Oceaneering International in the 3rd quarter valued at $32,000. 95.18% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International stock traded up $0.45 during trading on Friday, reaching $13.48. The company had a trading volume of 888,655 shares, compared to its average volume of 1,176,899. The firm’s 50-day simple moving average is $14.16 and its 200 day simple moving average is $13.84. Oceaneering International has a 1-year low of $11.38 and a 1-year high of $21.29. The firm has a market capitalization of $1.24 billion, a PE ratio of -8.87 and a beta of 2.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.90 and a current ratio of 2.29.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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