Y Intercept Hong Kong Ltd trimmed its stake in Oceaneering International, Inc. (NYSE:OII – Free Report) by 26.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,516 shares of the oil and gas company’s stock after selling 22,078 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Oceaneering International were worth $2,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OII. Wilmington Savings Fund Society FSB purchased a new stake in Oceaneering International in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 1,111 shares in the last quarter. Quarry LP purchased a new position in shares of Oceaneering International during the 3rd quarter valued at $30,000. Hantz Financial Services Inc. increased its stake in shares of Oceaneering International by 248.8% in the fourth quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 1,627 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Oceaneering International by 33.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,995 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 747 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on OII. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. Barclays upped their target price on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Citigroup raised their price target on Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Finally, TD Cowen lifted their price target on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $38.33.
Oceaneering International Stock Up 3.4%
Oceaneering International stock opened at $41.25 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44. Oceaneering International, Inc. has a 1-year low of $20.21 and a 1-year high of $41.49. The firm’s fifty day simple moving average is $38.21 and its 200-day simple moving average is $34.40. The company has a market capitalization of $4.11 billion, a P/E ratio of 12.24 and a beta of 1.15.
Oceaneering International (NYSE:OII – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 earnings per share. Sell-side analysts forecast that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Roderick A. Larson sold 5,000 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $38.27, for a total transaction of $191,350.00. Following the completion of the sale, the chief executive officer owned 397,279 shares in the company, valued at approximately $15,203,867.33. This represents a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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.
Featured Stories
- Five stocks we like better than Oceaneering International
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Want to see what other hedge funds are holding OII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oceaneering International, Inc. (NYSE:OII – Free Report).
Receive News & Ratings for Oceaneering International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oceaneering International and related companies with MarketBeat.com's FREE daily email newsletter.
