Oceaneering International Inc. [OII] Stock trading around $18.20 per share: What’s Next?

Oceaneering International Inc. [NYSE: OII] stock went on an upward path that rose over 19.50% on Wednesday, amounting to a one-week price increase of more than 31.98%. The company report on April 29, 2021 that Oceaneering Reports First Quarter 2021 Results.

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Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) reported a net loss of $9.4 million, or $(0.09) per share, on revenue of $438 million for the three months ended March 31, 2021. Adjusted net income was $2.8 million, or $0.03 per share, reflecting, among other things, the impact of $3.2 million of pre-tax adjustments associated with restructuring and other expenses and foreign exchange losses recognized during the quarter, and $9.6 million of discrete tax adjustments.

During the prior quarter ended December 31, 2020, Oceaneering reported a net loss of $25 million, or $(0.25) per share, on revenue of $424 million. Adjusted net income was $1.8 million, or $0.02 per share, reflecting, among other things, the impact of $9.8 million of pre-tax adjustments associated with asset impairments and write-offs, restructuring and other expenses, and foreign exchange losses recognized during the quarter, and $9.6 million of discrete tax adjustments.

Over the last 12 months, OII stock rose by 183.05%. The one-year Oceaneering International Inc. stock forecast points to a potential downside of -24.23. The average equity rating for OII stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.83 billion, with 99.46 million shares outstanding and 97.84 million shares in the current float. Compared to the average trading volume of 1.05M shares, OII stock reached a trading volume of 2569011 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Oceaneering International Inc. [OII]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OII shares is $14.65 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OII stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Oceaneering International Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 05, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $10 to $14. The new note on the price target was released on March 03, 2021, representing the official price target for Oceaneering International Inc. stock. Previously, the target price had yet another raise from $5.50 to $6, while Cowen kept a Market Perform rating on OII stock. On April 24, 2020, analysts increased their price target for OII shares from 4 to 7.

The Average True Range (ATR) for Oceaneering International Inc. is set at 1.04, with the Price to Sales ratio for OII stock in the period of the last 12 months amounting to 1.06. The Price to Book ratio for the last quarter was 3.34, with the Price to Cash per share for the same quarter was set at 4.50. Price to Free Cash Flow for OII in the course of the last twelve months was 14.89 with Quick ratio for the last quarter at 2.50.

OII Stock Performance Analysis:

Oceaneering International Inc. [OII] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 31.98. With this latest performance, OII shares gained by 62.36% in over the last four-week period, additionally plugging by 199.84% over the last 6 months – not to mention a rise of 183.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OII stock in for the last two-week period is set at 75.29, with the RSI for the last a single of trading hit 81.31, and the three-weeks RSI is set at 70.92 for Oceaneering International Inc. [OII]. The present Moving Average for the last 50 days of trading for this stock 12.47, while it was recorded at 15.23 for the last single week of trading, and 8.72 for the last 200 days.

Insight into Oceaneering International Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Oceaneering International Inc. [OII] shares currently have an operating margin of -1.74 and a Gross Margin at +8.97. Oceaneering International Inc.’s Net Margin is presently recorded at -27.18.

Return on Total Capital for OII is now -1.77, given the latest momentum, and Return on Invested Capital for the company is -28.06. Return on Equity for this stock declined to -61.27, with Return on Assets sitting at -20.76. When it comes to the capital structure of this company, Oceaneering International Inc. [OII] has a Total Debt to Total Equity ratio set at 177.53. Additionally, OII Total Debt to Total Capital is recorded at 63.97, with Total Debt to Total Assets ending up at 47.91. Long-Term Debt to Equity for the company is recorded at 174.12, with the Long-Term Debt to Total Capital now at 62.74.

Reflecting on the efficiency of the workforce at the company, Oceaneering International Inc. [OII] managed to generate an average of -$59,850 per employee. Receivables Turnover for the company is 3.15 with a Total Asset Turnover recorded at a value of 0.76.Oceaneering International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.80.

OII Stock EPS

With the latest financial reports released by the company, Oceaneering International Inc. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 33.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OII.

Oceaneering International Inc. [OII] Insider Position Details

There are presently around $1,594 million, or 92.10% of OII stock, in the hands of institutional investors. The top three institutional holders of OII stocks are: BLACKROCK INC. with ownership of 18,445,430, which is approximately 8.554% of the company’s market cap and around 2.00% of the total institutional ownership; VANGUARD GROUP INC, holding 11,116,352 shares of the stock with an approximate value of $202.32 million in OII stocks shares; and FMR LLC, currently with $133.27 million in OII stock with ownership of nearly -30.503% of the company’s market capitalization.

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Positions in Oceaneering International Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 90 institutional holders increased their position in Oceaneering International Inc. [NYSE:OII] by around 10,183,520 shares. Additionally, 93 investors decreased positions by around 9,146,238 shares, while 23 investors held positions by with 68,235,939 shares. The mentioned changes placed institutional holdings at 87,565,697 shares, according to the latest SEC report filing. OII stock had 29 new institutional investments in for a total of 2,375,188 shares, while 27 institutional investors sold positions of 1,256,049 shares during the same period.

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