Oceaneering International (NYSE:OII) Reaches New 1-Year High After Analyst Upgrade

Shares of Oceaneering International, Inc. (NYSE:OII) hit a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $39.00 to $47.00. Barclays currently has an equal weight rating on the stock. Oceaneering International traded as high as $53.98 and last traded at $53.97, with a volume of 96378 shares changing hands. The stock had previously closed at $52.73.

Other analysts have also issued reports about the stock. Citigroup lifted their target price on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen raised their price target on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. One 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.com, the stock has an average rating of “Hold” and a consensus target price of $41.00.

Insider Activity

In other news, CEO Roderick A. Larson sold 5,000 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the sale, the chief executive officer owned 397,279 shares in the company, valued at approximately $15,203,867.33. The trade was a 1.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 added to or reduced their stakes in the company. Annex Advisory Services LLC grew its stake in Oceaneering International by 29.3% during the second quarter. Annex Advisory Services LLC now owns 67,302 shares of the oil and gas company’s stock worth $2,727,000 after buying an additional 15,254 shares during the last quarter. Reinhart Partners LLC. bought a new position in shares of Oceaneering International in the second quarter valued at approximately $66,795,000. GAMMA Investing LLC raised its stake in shares of Oceaneering International by 27.1% in the second quarter. GAMMA Investing LLC now owns 5,124 shares of the oil and gas company’s stock valued at $208,000 after acquiring an additional 1,092 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Oceaneering International by 45.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 21,696 shares of the oil and gas company’s stock worth $879,000 after acquiring an additional 6,736 shares in the last quarter. Finally, Chelsea Counsel Co. acquired a new position in shares of Oceaneering International in the 1st quarter worth approximately $568,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Stock Performance

The firm has a market capitalization of $5.20 billion, a P/E ratio of 14.99 and a beta of 1.15. The stock has a 50-day moving average of $40.08 and a 200 day moving average of $36.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18.

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.