The share price of Oceaneering International Inc. (NYSE:OII) fell to $19.04 per share on Tuesday from $19.08. While Oceaneering International Inc. has underperformed by -0.21%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, OII rose by 54.17%, with highs and lows ranging from $20.21 to $7.25, whereas the simple moving average jumped by 57.96% in the last 200 days.
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On January 19, 2023, The Benchmark Company started tracking Oceaneering International Inc. (NYSE: OII) recommending Buy. A report published by Barclays on October 06, 2022, Downgraded its rating to ‘Equal Weight’ for OII. Piper Sandler also Upgraded OII shares as ‘Overweight’, setting a target price of $21 on the company’s shares in a report dated February 01, 2022. Cowen resumed its ‘Market Perform’ rating for OII, as published in its report on March 03, 2021. Cowen’s report from August 07, 2020 suggests a price prediction of $6 for OII shares, giving the stock a ‘Market Perform’ rating. Citigroup also rated the stock as ‘Buy’.
Analysis of Oceaneering International Inc. (OII)
Further, the quarter-over-quarter increase in sales is 19.90%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Oceaneering International Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -7.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.00, 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and OII is recording an average volume of 1.24M. On a monthly basis, the volatility of the stock is set at 5.35%, whereas on a weekly basis, it is put at 4.63%, with a loss of -4.85% over the past seven days. Furthermore, long-term investors anticipate a median target price of $17.86, showing decline from the present price of $19.04, 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?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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 0.30%. 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 92.70% 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 -3.36% in the first quarter. The company now owns 15,816,153 shares of the stock, with a value of $276.62 million, following the sale of -549,946 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in OII during the first quarter, downing its stake by -2.24%. During the last quarter, the company picked up -255,544 additional shares for a total stake of worth $194.85 million, bringing number of shares owned by the company to 11,140,598.
During the first quarter, SSgA Funds Management, Inc. added a 161,414 position in OII. Sourcerock Group LLC purchased an additional 1.26 million shares in the last quarter, increasing its holdings by 37.22%, now holding 4.66 million shares worth $81.51 million. At the end of the first quarter, Fidelity Management & Research Co decreased its OII holdings by -1.53% and now holds 4.63 million OII shares valued at $80.9 million with the lessened 71925.0 shares during the period. OII shares are owned by institutional investors to the tune of 92.70% at present.