Oceaneering International (NYSE:OII) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Oceaneering International, Inc. (NYSE:OII)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.24 and traded as high as $24.99. Oceaneering International shares last traded at $24.4450, with a volume of 766,112 shares trading hands.

Analysts Set New Price Targets

OII has been the subject of a number of analyst reports. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Citigroup upped their target price on Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. TD Cowen lifted their price target on shares of Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Barclays lifted their target price on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.00.

Oceaneering International Trading Down 1.6%

The stock has a market capitalization of $2.44 billion, a PE ratio of 10.67 and a beta of 1.29. The company’s 50 day moving average price is $24.24 and its two-hundred day moving average price is $23.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.97 and a quick ratio of 1.68.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, October 22nd. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.13. The company had revenue of $742.90 million during the quarter, compared to the consensus estimate of $709.48 million. Oceaneering International had a net margin of 8.21% and a return on equity of 22.94%. Oceaneering International’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Institutional Trading of Oceaneering International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC acquired a new position in shares of Oceaneering International during the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Oceaneering International during the third quarter worth about $28,000. Quarry LP acquired a new position in Oceaneering International in the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. boosted its holdings in Oceaneering International by 255.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

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.