Royal Bank of Canada Sells 173,579 Shares of Oceaneering International, Inc. $OII

Royal Bank of Canada lowered its stake in Oceaneering International, Inc. (NYSE:OII) by 14.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,048,210 shares of the oil and gas company’s stock after selling 173,579 shares during the quarter. Royal Bank of Canada’s holdings in Oceaneering International were worth $37,180,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Oceaneering International in the 3rd quarter valued at approximately $28,000. Quarry LP acquired a new position in Oceaneering International during the third quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its holdings in Oceaneering International by 335.6% during the second 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 last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Oceaneering International in the first quarter valued at approximately $53,000. Finally, Hantz Financial Services Inc. lifted 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 buying an additional 1,627 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Insider Activity at Oceaneering International

In related news, CEO Roderick A. Larson sold 5,000 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.27, for a total value 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 trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Kevin Mcevoy sold 3,000 shares of Oceaneering International stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.92, for a total value of $143,760.00. Following the sale, the director directly owned 134,133 shares in the company, valued at approximately $6,427,653.36. This trade represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 21,901 shares of company stock valued at $985,554. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OII. Weiss Ratings raised shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. TD Cowen boosted their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Citigroup upped their price target on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Barclays raised their price target on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Finally, Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.00.

Oceaneering International Trading Up 0.0%

Shares of OII stock opened at $48.79 on Tuesday. Oceaneering International, Inc. has a 1 year low of $21.03 and a 1 year high of $53.98. The firm’s fifty day simple moving average is $41.03 and its 200 day simple moving average is $37.01. The firm has a market capitalization of $4.86 billion, a P/E ratio of 14.02 and a beta of 1.15. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42.

About Oceaneering International

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.