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

Key Points

• Oceaneering International shares reached a new 52-week high, trading as high as $53.98 and closing near $53.81, up 3.0% on the day.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Buy, with an average rating of Hold and a consensus price target of $45—below the current market price.
• Insiders have sold 26,901 shares worth approximately $1.28 million over the past three months, while institutional investors own a substantial 93.93% of the company.

Shares of Oceaneering International, Inc. (NYSE:OII - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $53.98 and last traded at $53.81, with a volume of 372030 shares trading hands. The stock had previously closed at $52.20.

Wall Street Analyst Weigh In

OII has been the subject of a number of analyst reports. TD Cowen increased their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. Citigroup lifted their target price on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Barclays raised their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $45.00.

Oceaneering International Trading Up 3.0%

The firm has a market cap of $5.35 billion, a PE ratio of 15.45 and a beta of 1.15. The firm has a fifty day simple moving average of $43.16 and a two-hundred day simple moving average of $38.43. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42.

Insiders Place Their Bets

In related news, Director M Kevin Mcevoy sold 3,000 shares of Oceaneering International stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.92, for a total value of $143,760.00. Following the sale, the director owned 134,133 shares in the company, valued at $6,427,653.36. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $48.37, for a total transaction of $483,700.00. Following the completion of the sale, the director directly owned 68,916 shares of the company's stock, valued at approximately $3,333,466.92. This represents a 12.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 26,901 shares of company stock worth $1,277,904. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Oceaneering International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in Oceaneering International in the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC grew its position in shares of 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 valued at $30,000 after purchasing an additional 1,111 shares in the last quarter. Quarry LP bought a new stake in Oceaneering International in the 3rd quarter worth approximately $30,000. Allworth Financial LP purchased a new stake in Oceaneering International during the second quarter valued at $42,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Oceaneering International in the 1st quarter valued at about $53,000. 93.93% of the stock is owned by institutional investors.

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.

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