Oceaneering International, Inc. (NYSE:OII – Get Free Report)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $41.49 and last traded at $41.1820, with a volume of 172126 shares trading hands. The stock had previously closed at $39.88.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. TD Cowen raised their price objective on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Citigroup lifted their price target on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Barclays increased their price objective on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.33.
Get Our Latest Stock Analysis on Oceaneering International
Oceaneering International Stock Performance
Oceaneering International (NYSE:OII – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The firm 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%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. As a group, sell-side analysts forecast that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.
Insider Transactions at Oceaneering International
In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.
Institutional Investors Weigh In On Oceaneering International
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Oceaneering International by 27.1% during the second quarter. GAMMA Investing LLC now owns 5,124 shares of the oil and gas company’s stock valued at $208,000 after purchasing an additional 1,092 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in Oceaneering International by 45.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 21,696 shares of the oil and gas company’s stock valued at $879,000 after buying an additional 6,736 shares during the last quarter. Chelsea Counsel Co. acquired a new position in Oceaneering International during the 1st quarter worth $568,000. NewEdge Advisors LLC boosted its holdings in Oceaneering International by 34.3% during the first quarter. NewEdge Advisors LLC now owns 26,273 shares of the oil and gas company’s stock valued at $932,000 after acquiring an additional 6,713 shares during the period. Finally, Carlson Capital L.P. grew its position in shares of Oceaneering International by 2.5% in the first quarter. Carlson Capital L.P. now owns 32,800 shares of the oil and gas company’s stock valued at $1,163,000 after purchasing an additional 800 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.
Oceaneering International Company Profile
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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