It is Poised to be a Bull Market for Oceaneering International Inc. (OII)

Oceaneering International Inc. (NYSE: OII) stock fell -1.47% on Friday to $24.72 against a previous-day closing price of $25.09. With 3.09 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.95 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $25.29 whereas the lowest price it dropped to was $24.34. The 52-week range on OII shows that it touched its highest point at $26.35 and its lowest point at $7.25 during that stretch. It currently has a 1-year price target of $23.00. Beta for the stock currently stands at 2.85.

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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 -0.48%, but this was up by 15.78% over a month. Three-month performance surged to 38.88% while six-month performance rose 44.06%. The stock gained 153.02% in the past year, while it has gained 41.34% so far this year. A look at the trailing 12-month EPS for OII yields 0.63 with Next year EPS estimates of 1.50. For the next quarter, that number is 0.31. This implies an EPS growth rate of 151.70% for this year and 70.57% for next year.

Float and Shares Shorts:

At present, 100.78 million OII shares are outstanding with a float of 98.72 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.55 million, which was 3.52% higher than short shares on Jul 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.

Institutional Ownership:

Other institutions hold 58.71% of OII, in contrast to 35.36% held by mutual funds. Shares owned by individuals account for 3.61%. As the largest shareholder in OII with 14.59% of the stake, BlackRock Fund Advisors holds 14,703,980 shares worth 14,703,980. A second-largest stockholder of OII, The Vanguard Group, Inc., holds 11,958,163 shares, controlling over 11.87% of the firm’s shares. EARNEST Partners LLC is the third largest shareholder in OII, holding 5,174,384 shares or 5.13% stake. With a 7.06% stake in OII, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 7,110,197 shares are owned by the mutual fund manager. The Neuberger Berman Genesis Fund, which owns about 3.19% of OII stock, is the second-largest Mutual Fund holder. It holds 3,216,934 shares valued at 73.31 million. Vanguard Total Stock Market ETF holds 3.10% of the stake in OII, owning 3,127,903 shares worth 71.28 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 Jun 29, 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.

Analysts Ratings:

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 $27.00 and a low target of $17.00, the average target price over the next 12 months is $23.14. Based on these targets, OII could surge 9.22% to reach the target high and fall by -31.23% to reach the target low. Reaching the average price target will result in a decline of -6.39% 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 2 Sells. In these transactions, 0 shares were bought while 4,800 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 399,677 while 141,223 shares were sold.

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