Oceaneering International Stock Hits 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 Tuesday as it is currently trading at $58.69, above its previous 52-week high of $58.53 with 338,520 shares traded as of 10:15 a.m. ET. Average volume has been one million shares over the past 30 days.

Oceaneering International has a market cap of $6.11 billion and is part of the basic materials sector and energy industry. Shares are up 5.2% year to date as of the close of trading on Monday.

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 23.1, above the S&P 500 P/E ratio of 17.7.

  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

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 growth in earnings per share. 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.

See all 52-week high stocks or get investment ideas from our investment research center.

Holiday Special: Subscribe to Action Alerts PLUS to see how Jim Cramer trades his $2.5 Million+ portfolio for 51% off the list price. Your first 14-days are FREE: Sign up today to get e-mail alerts before every trade.
null

If you liked this article you might like

Trump Offshore Order Won't Solve Near-Term Woes for Oil Industry

Baker Hughes, Oceaneering Int'l, Superior Energy, Nabors: Energy Analyst's Picks

Drill for Profits in These Four Energy Services Stocks

Schlumberger More Dour on Oil and Gas Recovery

Cramer: The Answer to This Market: Part 1