PDT Partners LLC bought a new position in Oceaneering International, Inc. (NYSE:OII – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 12,188 shares of the oil and gas company’s stock, valued at approximately $494,000.
Several other large investors also recently bought and sold shares of OII. EP Wealth Advisors LLC purchased a new stake in shares of Oceaneering International during the second quarter valued at $855,000. Great Lakes Advisors LLC purchased a new position in Oceaneering International in the 2nd quarter worth $445,000. Leuthold Group LLC purchased a new position in Oceaneering International in the 4th quarter worth $3,548,000. Fifth Third Bancorp lifted its position in Oceaneering International by 6,782.5% during the 1st quarter. Fifth Third Bancorp now owns 29,526 shares of the oil and gas company’s stock worth $1,047,000 after acquiring an additional 29,097 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new stake in Oceaneering International during the 4th quarter worth about $5,489,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on OII shares. TD Cowen increased their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Barclays lifted their target price on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Weiss Ratings lowered Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Citigroup increased their price target on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.00.
Oceaneering International Stock Performance
NYSE OII opened at $51.09 on Friday. The stock has a 50-day simple moving average of $45.61 and a two-hundred day simple moving average of $39.77. The firm has a market capitalization of $5.09 billion, a P/E ratio of 14.68 and a beta of 1.15. Oceaneering International, Inc. has a fifty-two week low of $22.02 and a fifty-two week 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.
Oceaneering International (NYSE:OII – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.17. The business had revenue of $768.18 million during the quarter, compared to analysts’ expectations of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, equities analysts forecast that Oceaneering International, Inc. will post 2.1 earnings per share for the current year.
Insider Buying and Selling
In other news, SVP Christopher J. Dyer sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the sale, the senior vice president owned 14,702 shares of the company’s stock, valued at $700,550.30. This trade represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Earl Childress sold 12,701 shares of Oceaneering International stock in a transaction that occurred 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 transaction, the senior vice president directly owned 22,876 shares of the company’s stock, valued at approximately $1,068,537.96. This trade represents a 35.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 26,901 shares of company stock valued at $1,277,904. Insiders own 1.30% of the company’s stock.
Oceaneering International Company 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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