Oceaneering International (NYSE:OII) Stock Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Oceaneering International shares rose above their 200-day moving average, trading as high as $38.42 and last changing hands around $37.80. The move comes after the stock had a 200-day average of $30.60.
• Analyst sentiment is mixed but leans cautious: the stock currently carries an average Hold rating with a consensus price target of $36.67. Recent moves included target increases from Citigroup and Barclays, while other firms downgraded the stock to Hold.
• The company recently reported earnings below expectations, with Q1 EPS of $0.30 versus the $0.35 consensus, though revenue topped estimates at $692.43 million. Insider selling has also been notable, with executives selling shares over the past 90 days.

Shares of Oceaneering International, Inc. (NYSE:OII - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.60 and traded as high as $38.42. Oceaneering International shares last traded at $37.7970, with a volume of 932,466 shares traded.

Analyst Ratings Changes

Several brokerages recently commented on OII. Citigroup increased their price target on Oceaneering International from $25.00 to $35.00 and gave the company a "neutral" rating in a research report on Tuesday, March 10th. Zacks Research cut Oceaneering International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 5th. Weiss Ratings raised Oceaneering International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Barclays increased their price target on Oceaneering International from $32.00 to $39.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Finally, Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Oceaneering International presently has an average rating of "Hold" and a consensus price target of $36.67.

Oceaneering International Stock Down 2.4%

The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $36.35 and a 200-day simple moving average of $30.60. The stock has a market cap of $3.77 billion, a P/E ratio of 11.22 and a beta of 1.17.

Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. Oceaneering International's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. On average, equities research analysts forecast that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Oceaneering International

In other news, COO Benjamin Laura sold 33,176 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $37.51, for a total transaction of $1,244,431.76. Following the transaction, the chief operating officer owned 45,911 shares in the company, valued at approximately $1,722,121.61. This trade represents a 41.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Earl Childress sold 22,518 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $842,398.38. Following the transaction, the senior vice president owned 35,577 shares in the company, valued at approximately $1,330,935.57. This trade represents a 38.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,689 shares of company stock valued at $4,204,360 in the last 90 days. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Oceaneering International

A number of large investors have recently made changes to their positions in the company. Cannell & Spears LLC bought a new position in shares of Oceaneering International during the first quarter worth approximately $5,668,000. Renaissance Technologies LLC increased its stake in shares of Oceaneering International by 202.5% during the first quarter. Renaissance Technologies LLC now owns 85,000 shares of the oil and gas company's stock worth $3,015,000 after purchasing an additional 56,900 shares during the period. Sei Investments Co. increased its stake in Oceaneering International by 5.2% during the 1st quarter. Sei Investments Co. now owns 440,691 shares of the oil and gas company's stock worth $15,631,000 after acquiring an additional 21,905 shares during the period. Lido Advisors LLC increased its stake in Oceaneering International by 13.1% during the 1st quarter. Lido Advisors LLC now owns 13,738 shares of the oil and gas company's stock worth $487,000 after acquiring an additional 1,596 shares during the period. Finally, State of Wyoming increased its stake in Oceaneering International by 33.6% during the 1st quarter. State of Wyoming now owns 15,099 shares of the oil and gas company's stock worth $536,000 after acquiring an additional 3,800 shares during the period. Institutional investors own 93.93% of the company's stock.

About Oceaneering International

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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