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

Shares of Oceaneering International, Inc. (NYSE:OII) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $28.54 and last traded at $28.4730, with a volume of 124915 shares. The stock had previously closed at $26.73.

Analyst Upgrades and Downgrades

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

Oceaneering International Stock Up 5.9%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.68 and a current ratio of 1.97. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 12.36 and a beta of 1.24. The firm has a fifty day moving average price of $25.20 and a 200 day moving average price of $23.89.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.13. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.The company had revenue of $742.90 million during the quarter, compared to the consensus estimate of $709.48 million. During the same quarter last year, the company earned $0.36 earnings per share. Oceaneering International’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts expect that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Insider Transactions at Oceaneering International

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was 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 $1,379,264.40. The trade was a 35.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Salomon & Ludwin LLC acquired a new stake in Oceaneering International in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Oceaneering International during the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its stake in Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares in the last quarter. Quarry LP acquired a new stake in Oceaneering International during the 3rd quarter valued at $30,000. Finally, SBI Securities Co. Ltd. increased its position in Oceaneering International by 255.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds 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.