Oceaneering International Inc. (NYSE: OII) stock fell -4.68% on Thursday to $16.10 against a previous-day closing price of $16.89. With 0.59 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.84 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $16.48 whereas the lowest price it dropped to was $15.88. The 52-week range on OII shows that it touched its highest point at $22.26 and its lowest point at $7.25 during that stretch. It currently has a 1-year price target of $22.00. Beta for the stock currently stands at 2.83.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OII was down-trending over the past week, with a drop of -0.92%, but this was down by -4.22% over a month. Three-month performance dropped to -18.65% while six-month performance rose 8.34%. The stock gained 37.61% in the past year, while it has lost -7.95% so far this year. A look at the trailing 12-month EPS for OII yields 0.48 with Next year EPS estimates of 1.45. For the next quarter, that number is 0.29. This implies an EPS growth rate of 151.70% for this year and 54.98% for next year.
Float and Shares Shorts:
At present, 100.44 million OII shares are outstanding with a float of 98.12 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.93 million, which was 4.90% higher than short shares on Mar 30, 2023. In addition to Mr. Roderick A. Larson as the firm’s Pres, CEO & Director, Mr. Alan R. Curtis serves as its Sr. VP & CFO.
Through their ownership of 95.68% of OII’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.19% of OII, in contrast to 38.08% held by mutual funds. Shares owned by individuals account for 3.64%. As the largest shareholder in OII with 14.74% of the stake, BlackRock Fund Advisors holds 14,758,642 shares worth 14,758,642. A second-largest stockholder of OII, The Vanguard Group, Inc., holds 11,532,929 shares, controlling over 11.52% of the firm’s shares. EARNEST Partners LLC is the third largest shareholder in OII, holding 5,184,065 shares or 5.18% stake. With a 7.27% stake in OII, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 7,280,411 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.12% of OII stock, is the second-largest Mutual Fund holder. It holds 3,124,929 shares valued at 55.4 million. Vanguard Small Cap Index Fund holds 2.62% of the stake in OII, owning 2,624,196 shares worth 46.53 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, OII reported revenue of $524.03M and operating income of $22.85M. The EBITDA in the recently reported quarter was $24.52M and diluted EPS was $0.04.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OII since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With OII analysts setting a high price target of $25.00 and a low target of $17.00, the average target price over the next 12 months is $22.00. Based on these targets, OII could surge 55.28% to reach the target high and rise by 5.59% to reach the target low. Reaching the average price target will result in a growth of 36.65% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded OII stock several times over the past three months with 0 Buys and 14 Sells. In these transactions, 0 shares were bought while 88,120 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 420,026 while 88,120 shares were sold.