Oceaneering International (NYSE:OII) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Oceaneering International, Inc. (NYSE:OII)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $30.60 and traded as high as $38.42. Oceaneering International shares last traded at $37.7970, with a volume of 932,466 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OII shares. TD Cowen raised their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Barclays increased 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. Zacks Research cut shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Weiss Ratings raised Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Finally, Citigroup increased their target price on Oceaneering International from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.67.

Oceaneering International Stock Performance

The company has a market capitalization of $3.77 billion, a PE ratio of 11.22 and a beta of 1.17. The stock’s fifty day simple moving average is $36.35 and its 200-day simple moving average is $30.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08.

Oceaneering International (NYSE:OII) last issued 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 firm had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $671.35 million. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 earnings per share. As a group, equities analysts predict that Oceaneering International, Inc. will post 1.89 earnings per share for the current year.

Insider Transactions at Oceaneering International

In other Oceaneering International news, SVP Christopher J. Dyer sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $38.08, for a total value of $228,480.00. Following the completion of the transaction, the senior vice president directly owned 15,902 shares in the company, valued at approximately $605,548.16. The trade was a 27.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Earl Childress sold 22,518 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $842,398.38. Following the transaction, the senior vice president directly owned 35,577 shares in the company, valued at approximately $1,330,935.57. This represents a 38.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 111,689 shares of company stock worth $4,204,360 in the last three months. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Oceaneering International

A number of hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Oceaneering International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock worth $1,312,000 after acquiring an additional 2,633 shares during the period. Empowered Funds LLC grew its holdings in Oceaneering International by 1.9% in the first quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock valued at $2,634,000 after purchasing an additional 2,310 shares during the period. Strs Ohio acquired a new position in Oceaneering International during the first quarter worth approximately $168,000. Norges Bank acquired a new position in Oceaneering International during the second quarter worth approximately $1,485,000. Finally, Invesco Ltd. raised its stake in Oceaneering International by 8.0% during the second quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock worth $13,472,000 after purchasing an additional 48,382 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

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.