Oceaneering International (NYSE:OII) Sets New 1-Year High – Still a Buy?

Oceaneering International, Inc. (NYSE:OII) shares hit a new 52-week high during trading on Monday . The stock traded as high as $30.68 and last traded at $30.67, with a volume of 523340 shares traded. The stock had previously closed at $29.98.

Analyst Upgrades and Downgrades

Several research analysts have commented on OII shares. Benchmark reaffirmed a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. Barclays lowered their price objective on Oceaneering International from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Thursday, October 31st.

Oceaneering International Price Performance

The firm has a market capitalization of $3.09 billion, a P/E ratio of 22.58 and a beta of 2.35. The business has a 50-day moving average of $26.39 and a 200 day moving average of $25.27. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The firm had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, sell-side analysts predict that Oceaneering International, Inc. will post 1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the sale, the director now directly owns 28,229 shares of the company’s stock, valued at approximately $647,573.26. The trade was a 10.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

A number of hedge funds and other institutional investors have recently modified their holdings of OII. Congress Asset Management Co. purchased a new position in shares of Oceaneering International in the 3rd quarter worth approximately $38,819,000. Earnest Partners LLC boosted its stake in shares of Oceaneering International by 21.0% in the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after buying an additional 1,105,263 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Oceaneering International by 101.6% in the 2nd quarter. Victory Capital Management Inc. now owns 550,077 shares of the oil and gas company’s stock worth $13,015,000 after buying an additional 277,247 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Oceaneering International in the 3rd quarter worth approximately $6,106,000. Finally, American Century Companies Inc. boosted its stake in shares of Oceaneering International by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 2,022,378 shares of the oil and gas company’s stock worth $47,849,000 after buying an additional 239,701 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.