Oceaneering International (NYSE:OII) Hits New 12-Month High – What’s Next?

Oceaneering International, Inc. (NYSE:OII) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.49 and last traded at $41.1820, with a volume of 172126 shares changing hands. The stock had previously closed at $39.88.

Analysts Set New Price Targets

OII has been the subject of several research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. Barclays raised their price target on shares of Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. TD Cowen upped their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, Citigroup lifted their target price on Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.33.

Oceaneering International Stock Performance

The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 12.07 and a beta of 1.15. The firm’s 50-day moving average price is $38.15 and its two-hundred day moving average price is $34.28. 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 announced 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). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The business had revenue of $692.43 million for the quarter, compared to the consensus estimate of $671.35 million. During the same quarter in the prior year, the business earned $0.43 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts predict that Oceaneering International, Inc. will post 1.89 earnings per share for the current year.

Insiders Place Their Bets

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of the 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 transaction, the chief executive officer directly owned 397,279 shares in the company, valued at $15,203,867.33. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oceaneering International

Large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Oceaneering International during the 3rd quarter valued at about $28,000. Quarry LP bought a new stake in Oceaneering International during the third quarter worth about $30,000. EverSource Wealth Advisors LLC grew its stake in 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 worth $30,000 after buying an additional 1,111 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Oceaneering International during the first quarter worth approximately $53,000. Finally, Hantz Financial Services Inc. raised its stake in shares of Oceaneering International by 248.8% in the fourth quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 1,627 shares during the last quarter. 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.