Old West Investment Management LLC Trims Position in Oceaneering International, Inc. $OII

Old West Investment Management LLC decreased its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 25.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 196,637 shares of the oil and gas company’s stock after selling 66,563 shares during the period. Oceaneering International makes up approximately 1.3% of Old West Investment Management LLC’s holdings, making the stock its 26th largest position. Old West Investment Management LLC owned approximately 0.20% of Oceaneering International worth $4,074,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Oceaneering International by 1.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 326,978 shares of the oil and gas company’s stock valued at $7,131,000 after acquiring an additional 4,950 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Oceaneering International by 27.2% during the first quarter. Jennison Associates LLC now owns 57,463 shares of the oil and gas company’s stock worth $1,253,000 after purchasing an additional 12,293 shares during the last quarter. Foundry Partners LLC lifted its holdings in shares of Oceaneering International by 8.5% during the first quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company’s stock worth $304,000 after purchasing an additional 1,096 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in shares of Oceaneering International by 62.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 27,675 shares of the oil and gas company’s stock worth $604,000 after purchasing an additional 10,628 shares during the period. Finally, Federated Hermes Inc. grew its position in Oceaneering International by 14.5% in the 1st quarter. Federated Hermes Inc. now owns 144,127 shares of the oil and gas company’s stock valued at $3,143,000 after buying an additional 18,241 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

OII has been the subject of a number of analyst reports. TD Cowen upped their price objective on shares of Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Barclays boosted their price target on shares of Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a research report on Tuesday. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Citigroup increased their target price on Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Oceaneering International presently has an average rating of “Hold” and an average price target of $25.00.

Insiders Place Their Bets

In other news, CFO Alan R. Curtis sold 14,840 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total value of $361,502.40. Following the completion of the transaction, the chief financial officer owned 155,259 shares in the company, valued at $3,782,109.24. This trade represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Oceaneering International Trading Down 0.5%

Shares of Oceaneering International stock opened at $23.23 on Friday. The company has a 50-day moving average of $23.86 and a two-hundred day moving average of $22.06. Oceaneering International, Inc. has a 12-month low of $15.46 and a 12-month high of $30.98. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. The stock has a market cap of $2.32 billion, a PE ratio of 10.14 and a beta of 1.55.

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, topping analysts’ consensus estimates of $0.42 by $0.13. The business had revenue of $742.90 million for the quarter, compared to analysts’ expectations of $709.48 million. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.The company’s 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. On average, research analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Oceaneering International Profile

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.