Oceaneering International (NYSE:OII) Trading Up 4.3% - Still a Buy?

Key Points

• Oceaneering International's stock price increased by 4.3% to $24.66, despite a significant decline in trading volume, reflecting fluctuating market interest.
• Analysts have mixed opinions on the stock; one upgraded its price target to $25.00, while another lowered its rating to a "hold," resulting in an average rating of "hold" with a consensus price target of $27.00.
• The company reported a 4.5% year-over-year revenue increase in its latest quarter, achieving a net margin of 7.31% and beating earnings estimates with an EPS of $0.49.

Oceaneering International, Inc. (NYSE:OII - Get Free Report)'s stock price shot up 4.3% on Wednesday . The stock traded as high as $24.59 and last traded at $24.66. 120,373 shares were traded during trading, a decline of 85% from the average session volume of 810,936 shares. The stock had previously closed at $23.64.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OII shares. Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Barclays boosted their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Weiss Ratings reissued a "hold (c+)" rating on shares of Oceaneering International in a research report on Wednesday, October 8th. Finally, Citigroup boosted their price objective on shares of Oceaneering International from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $27.00.

Oceaneering International Stock Up 5.3%

The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.56 and a beta of 1.50. The stock's fifty day simple moving average is $23.92 and its two-hundred day simple moving average is $21.34. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.00 and a quick ratio of 1.67.

Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07. The business had revenue of $698.16 million during the quarter, compared to analyst estimates of $676.81 million. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, sell-side analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alan R. Curtis sold 14,840 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total value of $361,502.40. Following the completion of the sale, the chief financial officer directly owned 155,259 shares of the company's stock, valued at $3,782,109.24. This represents a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oceaneering International

Institutional investors and hedge funds have recently modified their holdings of the business. Ieq Capital LLC bought a new stake in shares of Oceaneering International during the 1st quarter worth approximately $389,000. Sumitomo Mitsui Trust Group Inc. raised its position in Oceaneering International by 62.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,675 shares of the oil and gas company's stock valued at $604,000 after purchasing an additional 10,628 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Oceaneering International by 2.3% during the first quarter. Principal Financial Group Inc. now owns 539,234 shares of the oil and gas company's stock worth $11,761,000 after acquiring an additional 12,085 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Oceaneering International by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 326,978 shares of the oil and gas company's stock worth $7,131,000 after purchasing an additional 4,950 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Oceaneering International during the first quarter valued at approximately $662,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.

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