Oppenheimer Asset Management Inc. Cuts Stake in Oceaneering International, Inc. $OII

Oppenheimer Asset Management Inc. lessened its stake in Oceaneering International, Inc. (NYSE:OII) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,398 shares of the oil and gas company’s stock after selling 2,741 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Oceaneering International were worth $1,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc grew its stake in Oceaneering International by 11,380.8% during the second quarter. IFP Advisors Inc now owns 2,985 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 2,959 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Oceaneering International by 29.7% during the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 711 shares during the last quarter. Vestcor Inc bought a new position in shares of Oceaneering International during the 1st quarter valued at about $156,000. Strs Ohio purchased a new position in shares of Oceaneering International during the first quarter valued at about $168,000. Finally, Central Pacific Bank Trust Division increased its holdings in shares of Oceaneering International by 9.1% in the second quarter. Central Pacific Bank Trust Division now owns 10,070 shares of the oil and gas company’s stock worth $209,000 after purchasing an additional 840 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Price Performance

Shares of Oceaneering International stock opened at $22.98 on Friday. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 10.04 and a beta of 1.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.68 and a current ratio of 1.97. The stock has a 50 day moving average price of $24.06 and a 200-day moving average price of $21.66. Oceaneering International, Inc. has a one year low of $15.46 and a one year high of $30.98.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.13. The company had revenue of $742.90 million for the quarter, compared to analyst estimates of $709.48 million. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.Oceaneering International’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. Equities analysts expect that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on OII. Barclays increased their price target on Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday. Citigroup upped their price objective on Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

Insider Activity

In related news, CFO Alan R. Curtis sold 14,840 shares of Oceaneering International stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total transaction of $361,502.40. Following the completion of the transaction, the chief financial officer directly owned 155,259 shares of the company’s stock, valued at approximately $3,782,109.24. The trade was a 8.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.