NEW YORK (

TheStreet

) --

Oceaneering International

(NYSE:

OII

) hit a new 52-week high Wednesday as it traded at $88.95 compared with its previous 52-Week high of $88.61. Oceaneering International is changing hands at $88.88 with 126,883 shares traded as of 12:07 p.m. ET. Average volume has been 550,500 shares over the past 30 days.

Oceaneering International has a market cap of $4.7 billion and is part of the

basic materials

sector and

energy

industry. Shares are up 18.6% year to date as of the close of trading on Tuesday.

Oceaneering International, Inc., together with its subsidiaries, provides engineered products and services primarily to the offshore oil and gas industry with a focus on deepwater applications. The company has a P/E ratio of 23.8, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 16.1.

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TheStreet Ratings rates Oceaneering International as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full

Oceaneering International Ratings Report

.

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