Stock Traders Buy High Volume of Call Options on Oceaneering International (NYSE:OII)

Oceaneering International, Inc. (NYSE:OII) was the recipient of unusually large options trading on Thursday. Traders purchased 3,555 call options on the stock. This is an increase of approximately 974% compared to the average daily volume of 331 call options.

Wall Street Analysts Forecast Growth

OII has been the subject of several analyst reports. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Weiss Ratings cut Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Barclays increased their target price on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Citigroup lifted their target price on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Oceaneering International Stock Performance

OII traded down $0.85 during midday trading on Thursday, hitting $42.68. 314,900 shares of the company traded hands, compared to its average volume of 1,103,168. The company’s 50-day moving average is $48.49 and its 200 day moving average is $42.68. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $4.25 billion, a PE ratio of 12.27 and a beta of 1.25. Oceaneering International has a 52 week low of $22.13 and a 52 week high of $54.25.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.17. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The company had revenue of $768.18 million for the quarter, compared to analysts’ expectations of $735.69 million. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts expect that Oceaneering International will post 2.10 EPS for the current year.

Insider Transactions at Oceaneering International

In other Oceaneering International news, SVP Christopher J. Dyer sold 1,200 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the completion of the sale, the senior vice president directly owned 14,702 shares in the company, valued at approximately $700,550.30. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Roderick A. Larson sold 6,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $44.16, for a total transaction of $264,960.00. Following the sale, the chief executive officer owned 391,279 shares of the company’s stock, valued at approximately $17,278,880.64. This represents a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 32,901 shares of company stock worth $1,542,864 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

A number of institutional investors and hedge funds have recently modified their holdings of OII. GAMMA Investing LLC grew its holdings in shares of Oceaneering International by 18.7% in the third quarter. GAMMA Investing LLC now owns 6,081 shares of the oil and gas company’s stock worth $265,000 after acquiring an additional 957 shares during the period. Veracity Capital LLC purchased a new stake in Oceaneering International during the third quarter valued at $578,000. QRG Capital Management Inc. increased its position in Oceaneering International by 12.9% during the second quarter. QRG Capital Management Inc. now owns 24,006 shares of the oil and gas company’s stock valued at $973,000 after acquiring an additional 2,743 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Oceaneering International in the second quarter valued at about $224,000. Finally, Tidal Investments LLC lifted its holdings in Oceaneering International by 8.4% in the second quarter. Tidal Investments LLC now owns 30,209 shares of the oil and gas company’s stock valued at $1,224,000 after acquiring an additional 2,341 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.

Oceaneering’s subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.