Oceaneering International (NYSE:OII) Reaches New 52-Week High – What’s Next?

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 $53.98 and last traded at $53.81, with a volume of 372030 shares. The stock had previously closed at $52.20.

Analyst Ratings Changes

A number of research firms have recently issued reports on OII. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Citigroup upped their price target on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Barclays lifted their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. TD Cowen boosted their price target on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and four have assigned 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 $45.00.

Oceaneering International Stock Performance

The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 15.45 and a beta of 1.15. The stock’s fifty day simple moving average is $43.16 and its 200 day simple moving average is $38.43.

Insider Activity at Oceaneering International

In related news, Director Paul B. Murphy, Jr. sold 10,000 shares of Oceaneering International stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $48.37, for a total value of $483,700.00. Following the completion of the transaction, the director owned 68,916 shares in the company, valued at $3,333,466.92. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director M Kevin Mcevoy sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.92, for a total value of $143,760.00. Following the transaction, the director directly owned 134,133 shares of the company’s stock, valued at approximately $6,427,653.36. This represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,901 shares of company stock valued at $1,277,904 over the last 90 days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Oceaneering International

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP purchased a new position in Oceaneering International in the 2nd quarter valued at $42,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $28,000. Quarry LP acquired a new stake in Oceaneering International in the third quarter valued at $30,000. EverSource Wealth Advisors LLC raised its position 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 acquiring an additional 1,111 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Oceaneering International in the 1st quarter valued at approximately $53,000. 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.