Oceaneering International Inc (NYSE:OII), a provider of technical services and products primarily for the offshore oil and gas industry with a focus on deepwater applications, has reported an insider transaction. According to a recent SEC filing, on August 20, 2024, Director M Mcevoy sold 9,675 shares of the company. Following this transaction, the insider now owns 141,837 shares of Oceaneering International Inc.
The shares were sold at a price of $26.12, valuing the transaction at around $252,861. This sale significantly changed the insider’s ownership in the company. Over the past year, M Mcevoy has sold a total of 9,675 shares and made no purchases.
Oceaneering International Inc.’s insider transaction history shows a trend of more insider selling than insider buying over the past year, with 7 insider sales and 0 insider purchases recorded.
As of last trading day, Oceaneering International Inc. had a market capitalization of $2.64 billion. The stock’s price-to-earnings ratio is 21.50, which is above both the industry median of 11.005 and the company’s historical median.
According to GF Value, Oceaneering International Inc.’s intrinsic value is estimated at $21.33 per share, so the current price of $26.12 equates to a Price to GF Value ratio of 1.22, suggesting that the stock is slightly overvalued.
The GF value is calculated based on historical trading multiples such as price-to-earnings, price-to-sales, price-to-book and price-to-free cash flow, along with a GuruFocus adjustment factor based on past earnings and growth as well as Morningstar analyst estimates of future business performance.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
This article first appeared on GuruFocus.
