PDT Partners LLC Purchases New Position in Oceaneering International, Inc. $OII

PDT Partners LLC purchased a new position in Oceaneering International, Inc. (NYSE:OII) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,188 shares of the oil and gas company’s stock, valued at approximately $494,000.

A number of other hedge funds also recently bought and sold shares of OII. Allworth Financial LP acquired a new stake in Oceaneering International in the second quarter valued at approximately $42,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Oceaneering International in the third quarter valued at approximately $28,000. Quarry LP acquired a new position in shares of Oceaneering International during the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC raised its stake in shares of Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after buying an additional 1,111 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Oceaneering International during the 1st quarter valued at approximately $53,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on OII. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. TD Cowen increased their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Citigroup lifted their target price on shares of Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Finally, Barclays upped their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.00.

Insider Buying and Selling at Oceaneering International

In related news, SVP Christopher J. Dyer sold 1,200 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the transaction, the senior vice president directly owned 14,702 shares in the company, valued at approximately $700,550.30. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director M Kevin Mcevoy sold 3,000 shares of the company’s stock in a transaction dated 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 directly owned 134,133 shares of the company’s stock, valued at approximately $6,427,653.36. This represents a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,901 shares of company stock valued at $1,277,904 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Oceaneering International Stock Up 3.0%

Shares of OII opened at $51.09 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. Oceaneering International, Inc. has a one year low of $22.02 and a one year high of $54.25. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 14.68 and a beta of 1.15. The stock has a 50 day moving average price of $45.61 and a 200 day moving average price of $39.77.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.46 by $0.17. The firm had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. Equities research analysts forecast that Oceaneering International, Inc. will post 2.1 earnings per share for the current fiscal year.

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.