Oceaneering International Inc (OII)
Oceaneering International, Inc. provides engineered products and services to the offshore oil and gas, defense, aerospace and commercial theme park industries globally. The company is headquartered in Houston, Texas.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 155.99% per annum.
- OII price at the close of May 8, 2024 was $23.37 and was lower than the bottom border of the primary price channel by $89.03 (79.21%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 26.49% per annum.
- OII price at the close of May 8, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of OII price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 9, 2020
End date: November 9, 2021
a = 0.5231
b = 0.0026
s = 0.2518
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0026) – 1
= 155.99%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.2518) – 1
= 173.75%
March 9, 2020 calculations
Top border of price channel:
Exp(Y209)
= Exp(a + b × X209 + 2 × s)
= Exp(a + b × 305 + 2 × s)
= Exp(0.5231 + 0.0026 × 305 + 2 × 0.2518)
= Exp(1.8121)
= $6.12
Bottom border of price channel:
Exp(Y209)
= Exp(a + b × X209 – 2 × s)
= Exp(a + b × 305 – 2 × s)
= Exp(0.5231 + 0.0026 × 305 – 2 × 0.2518)
= Exp(0.8050)
= $2.24
November 9, 2021 calculations
Top border of price channel:
Exp(Y632)
= Exp(a + b × X632 + 2 × s)
= Exp(a + b × 915 + 2 × s)
= Exp(0.5231 + 0.0026 × 915 + 2 × 0.2518)
= Exp(3.3830)
= $29.46
Bottom border of price channel:
Exp(Y632)
= Exp(a + b × X632 – 2 × s)
= Exp(a + b × 915 – 2 × s)
= Exp(0.5231 + 0.0026 × 915 – 2 × 0.2518)
= Exp(2.3760)
= $10.76
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 155.99% per annum.
- OII price at the close of May 8, 2024 was $23.37 and was lower than the bottom border of the primary price channel by $89.03 (79.21%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: December 4, 2020
End date: May 8, 2024
a = 1.9316
b = 0.0006
s = 0.2107
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0006) – 1
= 26.49%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.2107) – 1
= 132.31%
December 4, 2020 calculations
Top border of price channel:
Exp(Y398)
= Exp(a + b × X398 + 2 × s)
= Exp(a + b × 575 + 2 × s)
= Exp(1.9316 + 0.0006 × 575 + 2 × 0.2107)
= Exp(2.7233)
= $15.23
Bottom border of price channel:
Exp(Y398)
= Exp(a + b × X398 – 2 × s)
= Exp(a + b × 575 – 2 × s)
= Exp(1.9316 + 0.0006 × 575 – 2 × 0.2107)
= Exp(1.8804)
= $6.56
May 8, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(1.9316 + 0.0006 × 1,826 + 2 × 0.2107)
= Exp(3.5288)
= $34.08
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(1.9316 + 0.0006 × 1,826 – 2 × 0.2107)
= Exp(2.6859)
= $14.67
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 26.49% per annum.
- OII price at the close of May 8, 2024 was inside the secondary price channel.