Oceaneering International (NYSE:OII) Shares Up 4.7% - Still a Buy?

Key Points

• Oceaneering International shares rose 4.7% to about $50.75, with the company valued at approximately $5.04 billion. The stock is trading above its 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $0.63 in earnings per share versus the $0.46 consensus estimate and $768.18 million in revenue, up 10% year over year.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Buy, producing a consensus Hold rating and a $45 price target—below the current share price. Insiders have also sold 26,901 shares over the past 90 days.

Oceaneering International, Inc. (NYSE:OII - Get Free Report) shot up 4.7% during mid-day trading on Thursday . The stock traded as high as $50.67 and last traded at $50.7450. Approximately 409,573 shares traded hands during trading, a decline of 64% from the average session volume of 1,134,654 shares. The stock had previously closed at $48.49.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OII. Citigroup lifted their target price on Oceaneering International from $40.00 to $52.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Barclays raised their price objective 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. Weiss Ratings raised shares of Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. Finally, Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Oceaneering International has a consensus rating of "Hold" and a consensus price target of $45.00.

Oceaneering International Stock Up 4.5%

The company has a market cap of $5.04 billion, a price-to-earnings ratio of 14.56 and a beta of 1.17. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. The stock has a 50-day simple moving average of $47.93 and a 200-day simple moving average of $40.88.

Oceaneering International (NYSE:OII - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.17. The business had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 earnings per share. As a group, analysts predict that Oceaneering International, Inc. will post 2.1 EPS for the current year.

Insider Activity at Oceaneering International

In other news, Director M. McEvoy sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 134,133 shares in the company, valued at $6,427,653.36. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christopher Dyer sold 1,200 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the transaction, the senior vice president owned 14,702 shares in the company, valued at $700,550.30. This represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 26,901 shares of company stock valued at $1,277,904. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds have recently modified their holdings of OII. Lido Advisors LLC grew its holdings in Oceaneering International by 2.8% during the fourth quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company's stock worth $299,000 after acquiring an additional 335 shares during the period. Allworth Financial LP lifted its holdings in Oceaneering International by 63.2% in the 2nd quarter. Allworth Financial LP now owns 1,046 shares of the oil and gas company's stock valued at $42,000 after acquiring an additional 405 shares during the last quarter. CSM Advisors LLC boosted its position in shares of Oceaneering International by 3.1% during the 3rd quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company's stock valued at $359,000 after purchasing an additional 428 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Oceaneering International by 2.9% during the 4th quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company's stock valued at $470,000 after purchasing an additional 545 shares in the last quarter. Finally, State of Wyoming grew its stake in shares of Oceaneering International by 5.8% in the 4th quarter. State of Wyoming now owns 11,299 shares of the oil and gas company's stock worth $272,000 after purchasing an additional 621 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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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