Oceaneering International Reaches New 52-Week High (OII)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK ( TheStreet) -- Oceaneering International (NYSE: OII) hit a new 52-week high Friday as it is currently trading at $57.65, above its previous 52-week high of $57.27 with 79,106 shares traded as of 10:05 a.m. ET. Average volume has been 910,200 shares over the past 30 days.

Oceaneering International has a market cap of $6.12 billion and is part of the basic materials sector and energy industry. Shares are up 22.9% year to date as of the close of trading on Thursday.

Oceaneering International, Inc., together with its subsidiaries, provides engineered services and products primarily to the offshore oil and gas industry with a focus on deepwater applications worldwide. The company has a P/E ratio of 23.7, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Oceaneering International Ratings Report.

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