Tower View Wealth Management LLC bought a new position in shares of Oceaneering International, Inc. (NYSE:OII – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,281 shares of the oil and gas company’s stock, valued at approximately $1,016,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sigma Planning Corp lifted its holdings in Oceaneering International by 166.9% in the 3rd quarter. Sigma Planning Corp now owns 30,367 shares of the oil and gas company’s stock valued at $1,325,000 after acquiring an additional 18,991 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of Oceaneering International by 542.5% during the 3rd quarter. Sterling Capital Management LLC now owns 3,206 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 2,707 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Oceaneering International during the 3rd quarter valued at about $26,000. GAMMA Investing LLC grew its stake in shares of Oceaneering International by 18.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,081 shares of the oil and gas company’s stock worth $265,000 after purchasing an additional 957 shares during the last quarter. Finally, Veracity Capital LLC acquired a new position in shares of Oceaneering International in the 3rd quarter worth approximately $578,000. 93.93% of the stock is currently owned by institutional investors.
Oceaneering International Trading Up 0.1%
NYSE:OII opened at $39.32 on Monday. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.40. Oceaneering International, Inc. has a 1-year low of $22.13 and a 1-year high of $54.25. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 11.95 and a beta of 1.25. The stock has a fifty day simple moving average of $47.34 and a 200 day simple moving average of $43.02.
Oceaneering International (NYSE:OII – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The oil and gas company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. The firm had revenue of $784.55 million for the quarter, compared to analysts’ expectations of $775.93 million. During the same period in the prior year, the company posted $0.55 earnings per share. Oceaneering International’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that Oceaneering International, Inc. will post 2.10 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO Roderick Larson sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $44.16, for a total transaction of $264,960.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M. McEvoy sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 134,133 shares in the company, valued at $6,427,653.36. This represents a 2.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,901 shares of company stock valued at $1,542,864 over the last 90 days. 1.30% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of analysts recently commented on OII shares. Weiss Ratings downgraded shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Barclays raised their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Citigroup lifted their price target 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 upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Oceaneering International presently has a consensus rating of “Moderate Buy” and an average target price of $45.00.
Check Out Our Latest Research Report on OII
Oceaneering International Profile
Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.
Oceaneering also develops advanced technologies for government and commercial customers.
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