Reinhart Partners LLC. Invests $66.80 Million in Oceaneering International, Inc. $OII

Reinhart Partners LLC. bought a new position in shares of Oceaneering International, Inc. (NYSE:OII) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,648,423 shares of the oil and gas company’s stock, valued at approximately $66,795,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Oceaneering International by 27.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,124 shares of the oil and gas company’s stock worth $208,000 after acquiring an additional 1,092 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Oceaneering International by 45.0% during the second quarter. Central Pacific Bank Trust Division now owns 21,696 shares of the oil and gas company’s stock valued at $879,000 after acquiring an additional 6,736 shares during the last quarter. Chelsea Counsel Co. bought a new position in shares of Oceaneering International during the first quarter valued at $568,000. NewEdge Advisors LLC lifted its holdings in shares of Oceaneering International by 34.3% during the first quarter. NewEdge Advisors LLC now owns 26,273 shares of the oil and gas company’s stock worth $932,000 after purchasing an additional 6,713 shares during the period. Finally, Carlson Capital L.P. lifted its holdings in shares of Oceaneering International by 2.5% during the first quarter. Carlson Capital L.P. now owns 32,800 shares of the oil and gas company’s stock worth $1,163,000 after purchasing an additional 800 shares during the period. 93.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OII has been the subject of a number of recent research reports. TD Cowen increased their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Barclays lifted their target price on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Weiss Ratings upgraded Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Citigroup increased their price target on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Finally, Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday. 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, the company has a consensus rating of “Hold” and an average target price of $41.00.

Insiders Place Their Bets

In other Oceaneering International news, Director M Kevin Mcevoy sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.92, for a total value of $143,760.00. Following the transaction, the director directly owned 134,133 shares of the company’s stock, valued at approximately $6,427,653.36. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher J. Dyer sold 1,200 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the transaction, the senior vice president owned 14,702 shares in the company, valued at $700,550.30. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 21,901 shares of company stock valued at $985,554. Insiders own 1.30% of the company’s stock.

Oceaneering International Price Performance

Shares of NYSE OII opened at $48.00 on Friday. The company has a market capitalization of $4.78 billion, a PE ratio of 13.79 and a beta of 1.15. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. Oceaneering International, Inc. has a twelve month low of $21.03 and a twelve month high of $53.98. The firm has a fifty day simple moving average of $41.86 and a 200 day simple moving average of $37.55.

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.