Oceaneering International (NYSE:OII) Sets New 52-Week High – Still a Buy?

Oceaneering International, Inc. (NYSE:OII)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $30.56 and last traded at $30.56, with a volume of 1040 shares traded. The stock had previously closed at $30.03.

Wall Street Analyst Weigh In

OII has been the topic of a number of analyst reports. Barclays lowered their target price on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Thursday, October 31st. Benchmark restated a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a research report on Friday, October 25th.

Oceaneering International Price Performance

The company’s 50 day simple moving average is $26.06 and its two-hundred day simple moving average is $25.09. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. The stock has a market capitalization of $2.96 billion, a P/E ratio of 22.20 and a beta of 2.35.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). The company had revenue of $679.81 million for 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%. Oceaneering International’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. As a group, equities analysts expect that Oceaneering International, Inc. will post 1.39 EPS for the current fiscal year.

Insider Activity at Oceaneering International

In other news, Director Karen H. Beachy sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the sale, the director now owns 28,229 shares of the company’s stock, valued at $647,573.26. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Oceaneering International

Several hedge funds have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of Oceaneering International in the second quarter valued at about $38,000. Farther Finance Advisors LLC raised its holdings in shares of Oceaneering International by 3,594.3% in the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,905 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in Oceaneering International during the third quarter worth $57,000. CWM LLC increased its stake in Oceaneering International by 351.9% in the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 2,034 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Oceaneering International by 108.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock worth $68,000 after buying an additional 1,412 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

About Oceaneering International

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.