Oceaneering International (NYSE:OII) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

by · The Markets Daily

Oceaneering International, Inc. (NYSE:OII – Get Free Report) crossed 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Citigroup lifted their price target on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.00.

Check Out Our Latest Stock Analysis on Oceaneering International

Oceaneering International Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The company’s 50 day simple moving average is $49.33 and its 200 day simple moving average is $41.76. The company has a market capitalization of $4.61 billion, a PE ratio of 13.30 and a beta of 1.17.

Oceaneering International (NYSE:OII – Get Free Report) last issued 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. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The business had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. During the same quarter in the previous year, the firm earned $0.49 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Oceaneering International, Inc. will post 2.1 earnings per share for the current year.

Insider Activity at Oceaneering International

In other news, SVP Earl Childress sold 12,701 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $46.71, for a total value of $593,263.71. Following the completion of the sale, the senior vice president directly owned 22,876 shares of the company’s stock, valued at approximately $1,068,537.96. The trade was a 35.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the director directly 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 SEC filing for this sale provides additional information. Over the last three months, insiders have sold 26,901 shares of company stock worth $1,277,904. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OII. BlackRock Inc. acquired a new position in Oceaneering International in the 2nd quarter valued at about $664,659,000. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in Oceaneering International during the 4th quarter worth approximately $94,847,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Oceaneering International in the 2nd quarter valued at approximately $92,100,000. Reinhart Partners LLC. purchased a new position in shares of Oceaneering International in the 2nd quarter valued at approximately $66,795,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Oceaneering International in the second quarter valued at approximately $45,658,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Company Profile

(Get Free Report)

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.

See Also