Oceaneering International, Inc. $OII Shares Bought by AlphaQuest LLC

AlphaQuest LLC lifted its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 29.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,475 shares of the oil and gas company’s stock after buying an additional 19,009 shares during the period. AlphaQuest LLC owned approximately 0.08% of Oceaneering International worth $1,750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ieq Capital LLC acquired a new position in shares of Oceaneering International during the first quarter worth approximately $389,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Oceaneering International by 62.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,675 shares of the oil and gas company’s stock worth $604,000 after buying an additional 10,628 shares during the period. Principal Financial Group Inc. boosted its position in shares of Oceaneering International by 2.3% during the first quarter. Principal Financial Group Inc. now owns 539,234 shares of the oil and gas company’s stock worth $11,761,000 after buying an additional 12,085 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Oceaneering International by 1.5% during the first quarter. Envestnet Asset Management Inc. now owns 326,978 shares of the oil and gas company’s stock worth $7,131,000 after buying an additional 4,950 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in shares of Oceaneering International during the first quarter worth approximately $662,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on OII. Weiss Ratings reissued a “hold (c+)” rating on shares of Oceaneering International in a report on Wednesday, October 8th. Barclays upped their price target on Oceaneering International from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Citigroup upped their price target on Oceaneering International from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.67.

Insider Activity at Oceaneering International

In other news, CFO Alan R. Curtis sold 14,840 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total transaction of $361,502.40. Following the transaction, the chief financial officer directly owned 155,259 shares in the company, valued at $3,782,109.24. The trade was a 8.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Oceaneering International Trading Down 0.6%

Oceaneering International stock opened at $23.67 on Friday. The company’s fifty day simple moving average is $24.02 and its 200-day simple moving average is $21.46. The company has a quick ratio of 1.67, a current ratio of 1.97 and a debt-to-equity ratio of 0.53. Oceaneering International, Inc. has a 12 month low of $15.46 and a 12 month high of $30.98. The stock has a market cap of $2.37 billion, a P/E ratio of 10.33 and a beta of 1.50.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.42 by $0.13. Oceaneering International had a net margin of 8.21% and a return on equity of 22.94%. The business had revenue of $742.90 million for the quarter, compared to analysts’ expectations of $709.48 million. During the same period in the previous year, the company posted $0.36 EPS. Oceaneering International’s revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.