Oceaneering International (NYSE:OII) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Oceaneering International shares rose above their 200-day moving average, reaching $46.49 and last trading near $46.23, compared with the 200-day average of $41.67.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $45.00. Recent targets range from $47 to $52, while one firm downgraded the stock to Hold.
• The company exceeded quarterly expectations, reporting $0.63 in EPS versus $0.46 expected and revenue of $768.18 million, up 10% year over year; however, insiders sold 26,901 shares worth about $1.28 million over the past three months.

Oceaneering International, Inc. (NYSE:OII - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $41.67 and traded as high as $46.49. Oceaneering International shares last traded at $46.2290, with a volume of 432,146 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on OII. Barclays upped their price target on Oceaneering International from $39.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Citigroup boosted their price objective on Oceaneering International from $40.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $45.00.

Oceaneering International Stock Performance

The firm's 50 day moving average is $49.24 and its two-hundred day moving average is $41.67. The stock has a market capitalization of $4.60 billion, a PE ratio of 13.28 and a beta of 1.17. 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 (NYSE:OII - Get Free Report) last released its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.17. The company had revenue of $768.18 million for the quarter, compared to analyst estimates of $735.69 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. As a group, research analysts predict that Oceaneering International, Inc. will post 2.1 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Earl Childress sold 12,701 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $46.71, for a total value of $593,263.71. Following the sale, the senior vice president directly owned 22,876 shares in the company, valued at approximately $1,068,537.96. This trade represents a 35.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Murphy, Jr. sold 10,000 shares of Oceaneering International stock in a transaction on Friday, August 7th. The shares were sold at an average price of $48.37, for a total value of $483,700.00. Following the completion of the transaction, the director owned 68,916 shares of the company's stock, valued at approximately $3,333,466.92. This trade represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,901 shares of company stock valued at $1,277,904 in the last three months. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently made changes to their positions in OII. QRG Capital Management Inc. grew its position in shares of Oceaneering International by 12.9% during the second quarter. QRG Capital Management Inc. now owns 24,006 shares of the oil and gas company's stock worth $973,000 after buying an additional 2,743 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Oceaneering International during the second quarter worth approximately $224,000. Tidal Investments LLC raised its holdings in Oceaneering International by 8.4% in the second quarter. Tidal Investments LLC now owns 30,209 shares of the oil and gas company's stock valued at $1,224,000 after acquiring an additional 2,341 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Oceaneering International in the second quarter valued at approximately $35,000. Finally, NewEdge Advisors LLC lifted its stake in Oceaneering International by 24.2% in the second quarter. NewEdge Advisors LLC now owns 32,640 shares of the oil and gas company's stock worth $1,323,000 after acquiring an additional 6,367 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston, Texas-based global engineering and technology company that provides products and services to the offshore energy, defense, aerospace, and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles (ROVs), subsea tooling, umbilicals, engineering services, and inspection, maintenance, and repair solutions for offshore infrastructure.

Oceaneering's business also includes offshore project management, asset integrity management, digital and data solutions, and the design and manufacture of specialized equipment.

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