Oceaneering International (NYSE:OII) Shares Up 5.9%

Oceaneering International, Inc. (NYSE:OII) shares were up 5.9% on Tuesday . The stock traded as high as $25.37 and last traded at $25.37. Approximately 498,374 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 823,299 shares. The stock had previously closed at $23.95.

Analysts Set New Price Targets

Several research firms have recently issued reports on OII. Citigroup raised their target price on shares of Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Benchmark reissued a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research note on Thursday, July 25th. Finally, Barclays boosted their target price on Oceaneering International from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st.

Oceaneering International Price Performance

The stock’s 50 day moving average price is $26.05 and its 200-day moving average price is $23.95. The company has a quick ratio of 1.42, a current ratio of 1.72 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $2.59 billion, a PE ratio of 24.06 and a beta of 2.35.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $668.81 million during the quarter, compared to analysts’ expectations of $656.87 million. Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. Oceaneering International’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. As a group, equities analysts forecast that Oceaneering International, Inc. will post 1.42 EPS for the current year.

Insider Buying and Selling

In related news, Director M Kevin Mcevoy sold 9,675 shares of Oceaneering International stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total value of $252,711.00. Following the completion of the sale, the director now directly owns 141,837 shares in the company, valued at $3,704,782.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Oceaneering International news, SVP Earl Childress sold 10,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total transaction of $257,000.00. Following the sale, the senior vice president now owns 57,351 shares of the company’s stock, valued at approximately $1,473,920.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Kevin Mcevoy sold 9,675 shares of Oceaneering International stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total value of $252,711.00. Following the completion of the transaction, the director now owns 141,837 shares in the company, valued at $3,704,782.44. The disclosure for this sale can be found here. Insiders have sold a total of 22,975 shares of company stock valued at $585,413 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oceaneering International

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Oceaneering International by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,578,957 shares of the oil and gas company’s stock valued at $294,348,000 after buying an additional 117,503 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Oceaneering International by 21.0% during the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after acquiring an additional 1,105,263 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Oceaneering International by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock valued at $64,003,000 after acquiring an additional 43,941 shares during the last quarter. Van ECK Associates Corp boosted its stake in Oceaneering International by 0.5% in the first quarter. Van ECK Associates Corp now owns 2,076,502 shares of the oil and gas company’s stock valued at $48,590,000 after acquiring an additional 10,575 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Oceaneering International by 13.4% in the second quarter. American Century Companies Inc. now owns 2,022,378 shares of the oil and gas company’s stock worth $47,849,000 after purchasing an additional 239,701 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

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.