Oceaneering International Inc. (NYSE:OII) closed Wednesday at $9.17 per share, down from $9.81 a day earlier. While Oceaneering International Inc. has underperformed by -6.52%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, OII fell by -31.26%, with highs and lows ranging from $18.20 to $8.56, whereas the simple moving average fell by -28.46% in the last 200 days.
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On February 01, 2022, Piper Sandler Upgraded Oceaneering International Inc. (NYSE: OII) to Overweight. A report published by BofA Securities on May 05, 2021, Upgraded its rating to ‘Buy’ for OII. Cowen also reiterated OII shares as ‘Market Perform’, quoting a target price of $14 on the company’s shares in a report dated March 03, 2021. Cowen Reiterated the rating as Market Perform on August 07, 2020, but set its price target from $5.50 to $6. Citigroup April 24, 2020d its ‘Neutral’ rating to ‘Buy’ for OII, as published in its report on April 24, 2020. Wolfe Research also rated the stock as ‘Peer Perform’.
Analysis of Oceaneering International Inc. (OII)
Further, the quarter-over-quarter increase in sales is 2.00%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Oceaneering International Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -9.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and OII is recording an average volume of 1.31M. On a monthly basis, the volatility of the stock is set at 5.60%, whereas on a weekly basis, it is put at 7.27%, with a loss of -18.63% over the past seven days. Furthermore, long-term investors anticipate a median target price of $15.93, showing growth from the present price of $9.17, which can serve as yet another indication of whether OII is worth investing in or should be passed over.
How Do You Analyze Oceaneering International Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.00%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 92.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in OII shares?
The recent increase in stakes in OII appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in OII has decreased by -0.32% in the first quarter. The company now owns 16,187,205 shares of the stock, with a value of $172.88 million, following the sale of -52,089 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in OII during the first quarter, upping its stake by 1.51%. During the last quarter, the company dropped down 167,777 additional shares for a total stake of worth $120.13 million, bringing number of shares owned by the company to 11,248,343.
During the first quarter, Fidelity Management & Research Co subtracted a -375,702 position in OII. Van Eck Associates Corp. purchased an additional 0.36 million shares in the last quarter, increasing its holdings by 7.79%, now holding 5.04 million shares worth $53.83 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its OII holdings by 9.39% and now holds 4.63 million OII shares valued at $49.43 million with the added 0.4 million shares during the period. OII shares are owned by institutional investors to the tune of 92.00% at present.