Insider Selling: Oceaneering International (NYSE:OII) CEO Sells $264,960.00 in Stock

Oceaneering International, Inc. (NYSE:OII – Get Free Report) CEO Roderick Larson sold 6,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $44.16, for a total value of $264,960.00. Following the completion of the sale, the chief executive officer owned 391,279 shares in the company, valued at $17,278,880.64. The trade was a 1.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Oceaneering International Stock Down 2.9%

Oceaneering International stock opened at $43.67 on Thursday. The business’s 50-day moving average price is $48.93 and its 200 day moving average price is $42.40. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 12.55 and a beta of 1.25. Oceaneering International, Inc. has a 52 week low of $22.02 and a 52 week high of $54.25.

Oceaneering International (NYSE:OII – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The company had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. During the same period in the previous year, the company posted $0.49 earnings per share. Oceaneering International’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Oceaneering International, Inc. will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OII. EP Wealth Advisors LLC acquired a new position in Oceaneering International during the second quarter worth $855,000. Great Lakes Advisors LLC acquired a new stake in shares of Oceaneering International in the second quarter valued at about $445,000. Bank of America Corp DE acquired a new stake in shares of Oceaneering International in the second quarter valued at about $14,783,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Oceaneering International during the second quarter worth about $2,889,000. Finally, Fifth Third Bancorp increased its stake in shares of Oceaneering International by 6,782.5% during the first quarter. Fifth Third Bancorp now owns 29,526 shares of the oil and gas company’s stock worth $1,047,000 after purchasing an additional 29,097 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Barclays raised their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Citigroup upped their price objective on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research 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 note on Saturday, August 8th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Get Our Latest Research Report on OII

Oceaneering International Company Profile

(Get Free Report)

Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.

Oceaneering’s subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.

Recommended Stories

Insider Buying and Selling by Quarter for Oceaneering International (NYSE:OII)

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.