Oceaneering International, Inc. (NYSE:OII) Short Interest Update

Oceaneering International, Inc. (NYSE:OII) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 4,470,000 shares, a growth of 20.8% from the June 30th total of 3,700,000 shares. Currently, 4.5% of the shares of the company are short sold. Based on an average daily trading volume, of 848,900 shares, the short-interest ratio is presently 5.3 days.

Analyst Upgrades and Downgrades

OII has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Thursday. Citigroup upped their target price on Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Barclays restated an “underweight” rating and issued a $21.00 price target (down from $22.00) on shares of Oceaneering International in a research note on Tuesday, May 14th. Finally, StockNews.com lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

Oceaneering International Stock Performance

NYSE OII traded up $0.80 during trading on Friday, reaching $29.75. The company’s stock had a trading volume of 1,688,965 shares, compared to its average volume of 899,487. The firm has a 50 day moving average price of $23.64 and a 200 day moving average price of $22.64. Oceaneering International has a 12 month low of $18.67 and a 12 month high of $30.41. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 28.07 and a beta of 2.39. The company has a current ratio of 1.72, a quick ratio of 1.45 and a debt-to-equity ratio of 0.73.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $668.81 million during the quarter, compared to analyst estimates of $656.87 million. Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, equities analysts anticipate that Oceaneering International will post 1.4 EPS for the current fiscal year.

Institutional Trading of Oceaneering International

A number of institutional investors have recently modified their holdings of OII. Hennessy Advisors Inc. grew its stake in Oceaneering International by 541.1% during the fourth quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after buying an additional 829,000 shares in the last quarter. Norges Bank bought a new position in Oceaneering International in the fourth quarter valued at approximately $15,161,000. Earnest Partners LLC raised its position in Oceaneering International by 9.3% during the first quarter. Earnest Partners LLC now owns 5,259,951 shares of the oil and gas company’s stock valued at $123,083,000 after purchasing an additional 445,419 shares in the last quarter. Hawk Ridge Capital Management LP bought a new stake in Oceaneering International during the fourth quarter worth $8,884,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Oceaneering International by 46.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,253,175 shares of the oil and gas company’s stock valued at $29,323,000 after purchasing an additional 398,209 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

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.