Is Oceaneering International Inc. (NYSE: OII) Back In The Buying Zone?


    The Vanguard Group, Inc. recently announced the acquisition of new stake in Oceaneering International Inc. (NYSE:OII). The institutional investor has increased its shareholding in the Energy company by 5.48% to 10.61 million shares with purchase of 0.55 million shares. This fresh investment now brings its stake to 10.69% valued currently at $67.78 million. In addition, Fidelity Management & Research Co. raised its holdings by 1.68 million to 9.18 million shares. And SSgA Funds Management, Inc. has lifted its position by 8.56% or 0.31 million shares – to 3.98 million shares.

    With over 2.11 million Oceaneering International Inc. (OII) shares trading Tuesday and a closing price of $5.75 on the day, the dollar volume was approximately $12.15 million. The shares have shown a positive weekly performance of 8.00% and its price on 07/21/20 lost nearly -7.41%. Currently, there are 99.06M common shares owned by the public and among those 97.66M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for OII have a consensus price objective of $6.15. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $3.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Oceaneering International Inc. stock is 2.60 for the next 12 months. The average price target is 6.5% above its last price level and an upside to the estimated low will see the stock lose -91.67% over that period. But an upside of 42.5% will see the stock hit the forecast high price target while mean target price for the stock is $6.50.

    Insiders at the company have transacted a total of 45 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 519,669 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 55,823 shares.

    The top 3 mutual fund holders in Oceaneering International Inc. are iShares Core S&P Small Cap ETF, Nikko Asset Global Robotics Equit, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 6.11 million shares of the company’s stock, all valued at over $39.07 million. Vanguard Total Stock Market Index bought 4891.0 shares to bring its total holdings to over 2.86 million shares at a value of $18.3 million. Vanguard Total Stock Market Index now owns shares totaling to 2.89% of the shares outstanding.

    Shares of Oceaneering International Inc. (NYSE: OII) opened at $5.67, down -$0.54 from a prior closing price of $6.21. However, the script later closed the day at $5.75, down -7.41%. The company’s stock has a 5-day price change of 8.00% and 82.65% over the past three months. OII shares are trading -58.35% year to date (YTD), with the 12-month market performance down to -66.67% lower. It has a 12-month low price of $2.01 and touched a high of $19.46 over the same period. Currently, 2.11 million shares have been traded, compared to an average intraday trading volume of 1.76 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.56%, -7.03%, and -39.89% respectively.

    Institutional ownership of Oceaneering International Inc. (NYSE: OII) shares accounts for 91.50% of the company’s 99.06M shares outstanding. Mutual fund holders own 28.80%, while other institutional holders and individual stakeholders account for 64.13% and 2.64% respectively.

    It has a market capitalization of $644.10M and a beta (3y monthly) value of 3.30. The earnings-per-share (ttm) stands at -$7.51. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.60% over the week and 7.82% over the month.

    Analysts forecast that Oceaneering International Inc. (OII) will achieve an EPS of -$0.21 for the current quarter, -$0.24 for the next quarter and -$0.82 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.33 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -74.60%, and -20.30% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Oceaneering International Inc. (OII) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 10 of the 18 advise that investors “hold,” and 1 rated it as a “Sell.”

    Looking at the support for the OII, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on April 24, 2020, with the firm’s price target at $4-$7. Bernstein coverage for the Oceaneering International Inc. (OII) stock in a research note released on April 06, 2020 offered a Mkt Perform rating with a price target of. Wolfe Research was of a view on March 19, 2020 that the stock is Peer Perform, while Evercore ISI gave the stock In-line rating on March 09, 2020, issuing a price target of. BofA/Merrill on their part issued Neutral rating on March 09, 2020.


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