Stock Traders Buy Large Volume of Put Options on Oceaneering International (NYSE:OII)

Oceaneering International (NYSE:OII) was the recipient of unusually large options trading activity on Monday. Stock traders purchased 769 put options on the stock. This represents an increase of approximately 1,161% compared to the typical volume of 61 put options.

Several analysts have recently weighed in on OII shares. Barclays reiterated a “buy” rating and issued a $21.00 price objective on shares of Oceaneering International in a research note on Sunday, May 5th. Citigroup set a $22.00 price objective on shares of Oceaneering International and gave the company a “hold” rating in a research note on Tuesday, July 2nd. Seaport Global Securities upgraded shares of Oceaneering International from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, May 7th. Royal Bank of Canada set a $20.00 price objective on shares of Oceaneering International and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, ValuEngine lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.

NYSE OII traded up $0.21 during mid-day trading on Tuesday, hitting $12.59. The company’s stock had a trading volume of 1,359,897 shares, compared to its average volume of 1,171,176. The firm’s 50 day moving average price is $17.39. Oceaneering International has a twelve month low of $10.74 and a twelve month high of $28.62. The company has a quick ratio of 2.01, a current ratio of 2.43 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -17.73 and a beta of 2.14.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.07). Oceaneering International had a negative net margin of 9.49% and a negative return on equity of 4.38%. The business had revenue of $495.78 million during the quarter, compared to analyst estimates of $524.97 million. During the same period in the previous year, the business posted ($0.23) EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts predict that Oceaneering International will post -0.85 earnings per share for the current fiscal year.

In other Oceaneering International news, CAO Witland J. Jr. Leblanc sold 2,879 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $19.02, for a total transaction of $54,758.58. Following the completion of the transaction, the chief accounting officer now owns 15,092 shares in the company, valued at approximately $287,049.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. acquired a new stake in Oceaneering International in the 2nd quarter valued at $36,000. Zions Bancorporation N.A. acquired a new stake in Oceaneering International in the 1st quarter valued at $44,000. DekaBank Deutsche Girozentrale grew its position in Oceaneering International by 47.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,622 shares of the oil and gas company’s stock valued at $244,000 after purchasing an additional 2,774 shares during the period. Manchester Capital Management LLC acquired a new stake in Oceaneering International in the 1st quarter valued at $163,000. Finally, Nisa Investment Advisors LLC grew its position in Oceaneering International by 54.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the oil and gas company’s stock valued at $230,000 after purchasing an additional 4,000 shares during the period. 96.45% of the stock is owned by institutional investors and hedge funds.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

Read More: Blue-Chip Stocks

Receive News & Ratings for Oceaneering International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oceaneering International and related companies with MarketBeat.com's FREE daily email newsletter.