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

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OII. Benchmark reissued 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 target price on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, October 31st.

Oceaneering International Trading Up 2.0 %

The firm has a market cap of $3.09 billion, a P/E ratio of 22.58 and a beta of 2.35. 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 50 day moving average of $26.39 and a 200 day moving average of $25.27.

Oceaneering International (NYSE:OII) last released 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). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Oceaneering International, Inc. will post 1.39 EPS for the current year.

Insider Buying and Selling at Oceaneering International

In other news, Director Karen H. Beachy sold 3,300 shares of the stock in a transaction dated Tuesday, September 10th. The shares were 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 in the company, valued at approximately $647,573.26. This represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Oceaneering International

Institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Oceaneering International during the second quarter worth about $38,000. Farther Finance Advisors LLC boosted its holdings in shares of Oceaneering International by 3,594.3% during the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,905 shares during the period. Millburn Ridgefield Corp purchased a new stake in shares of Oceaneering International during the third quarter worth about $57,000. CWM LLC lifted its holdings in Oceaneering International by 351.9% in the second quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after buying an additional 2,034 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Oceaneering International by 108.3% in the third 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 during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.