Oceaneering International (NYSE:OII) Sets New 12-Month High – Here’s What Happened

Oceaneering International, Inc. (NYSE:OII)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.56 and last traded at $30.56, with a volume of 1040 shares. The stock had previously closed at $30.03.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research note on Friday, October 25th. Barclays reduced their price target on Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Thursday, October 31st.

Oceaneering International Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. The business has a 50 day simple moving average of $26.06 and a 200-day simple moving average of $25.09. The stock has a market capitalization of $2.96 billion, a P/E ratio of 22.20 and a beta of 2.35.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08). Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The business had revenue of $679.81 million during the quarter, compared to analyst estimates of $693.69 million. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that Oceaneering International, Inc. will post 1.39 EPS for the current year.

Insiders Place Their Bets

In related news, Director Karen H. Beachy sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the sale, the director now directly owns 28,229 shares in the company, valued at approximately $647,573.26. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

Hedge funds have recently added to or reduced their stakes in the company. Isthmus Partners LLC lifted its position in shares of Oceaneering International by 0.9% in the second quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock worth $27,000 after buying an additional 968 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Oceaneering International during the second quarter valued at about $38,000. Farther Finance Advisors LLC grew its position in shares of Oceaneering International by 3,594.3% in the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,905 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of Oceaneering International in the third quarter valued at about $57,000. Finally, CWM LLC lifted its position in shares of Oceaneering International by 351.9% during the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,034 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

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.