Callan Family Office LLC acquired a new position in Oceaneering International, Inc. (NYSE:OII – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,171 shares of the oil and gas company’s stock, valued at approximately $453,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP acquired a new stake in Oceaneering International during the second quarter valued at approximately $42,000. Wilmington Savings Fund Society FSB acquired a new position in Oceaneering International in the third quarter worth approximately $28,000. Quarry LP bought a new position in shares of Oceaneering International in the third quarter valued at $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Oceaneering International during the 1st quarter valued at $53,000. 93.93% of the stock is currently owned by institutional investors.
Oceaneering International Stock Down 1.0%
Shares of OII stock opened at $49.43 on Thursday. The stock’s 50 day simple moving average is $45.31 and its 200 day simple moving average is $39.63. Oceaneering International, Inc. has a twelve month low of $22.02 and a twelve month high of $54.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 14.20 and a beta of 1.15.
Analyst Upgrades and Downgrades
OII has been the topic of a number of recent research reports. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. TD Cowen raised their price objective on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Weiss Ratings cut shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Barclays increased their price objective on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Finally, Citigroup lifted their target price on shares of Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.00.
Get Our Latest Stock Report on OII
Insider Activity
In related news, Director M Kevin Mcevoy sold 3,000 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.92, for a total transaction of $143,760.00. Following the completion of the sale, the director directly owned 134,133 shares of the company’s stock, valued at approximately $6,427,653.36. This represents a 2.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Earl Childress sold 12,701 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the completion of the transaction, the senior vice president owned 22,876 shares in the company, valued at $1,068,537.96. The trade was a 35.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,901 shares of company stock valued at $1,277,904 over the last three months. Corporate insiders own 1.30% of the company’s stock.
Oceaneering International Profile
Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.
Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.
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