Insider Selling: Oceaneering International (NYSE:OII) CEO Sells 5,000 Shares of Stock

Oceaneering International, Inc. (NYSE:OII) CEO Roderick Larson sold 5,000 shares of Oceaneering International stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Oceaneering International Price Performance

Oceaneering International stock traded down $0.55 during trading hours on Tuesday, hitting $37.99. 498,126 shares of the stock were exchanged, compared to its average volume of 1,223,427. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08. The stock has a market capitalization of $3.79 billion, a P/E ratio of 11.27 and a beta of 1.17. Oceaneering International, Inc. has a 12 month low of $18.45 and a 12 month high of $40.12. The business’s 50-day moving average is $36.43 and its two-hundred day moving average is $30.76.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The business had revenue of $692.43 million during the quarter, compared to analyst estimates of $671.35 million. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. Equities research analysts expect that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on OII. TD Cowen increased their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Barclays increased their price objective on shares of Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Zacks Research downgraded shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.67.

Hedge Funds Weigh In On Oceaneering International

A number of hedge funds and other institutional investors have recently bought and sold shares of OII. Wilmington Savings Fund Society FSB bought a new stake in shares of Oceaneering International during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of Oceaneering International by 335.6% in 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 purchasing an additional 1,111 shares during the period. Quarry LP bought a new position in shares of Oceaneering International in the 3rd quarter worth $30,000. SBI Securities Co. Ltd. boosted its position in shares of Oceaneering International by 255.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Oceaneering International by 47.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 629 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

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.