Northern Trust Corp Sells 26,994 Shares of Oceaneering International, Inc. $OII

Northern Trust Corp reduced its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 2.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,203,892 shares of the oil and gas company’s stock after selling 26,994 shares during the period. Northern Trust Corp owned about 1.20% of Oceaneering International worth $26,257,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in Oceaneering International by 29.7% during the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 711 shares in the last quarter. Foundry Partners LLC lifted its position in shares of Oceaneering International by 8.5% during the first quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company’s stock worth $304,000 after acquiring an additional 1,096 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Oceaneering International by 12.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the oil and gas company’s stock worth $242,000 after acquiring an additional 1,256 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of Oceaneering International by 17.6% during the first quarter. Central Pacific Bank Trust Division now owns 9,230 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Oceaneering International by 2.1% in the fourth quarter. Stifel Financial Corp now owns 70,418 shares of the oil and gas company’s stock worth $1,837,000 after buying an additional 1,475 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Barclays lifted their price objective on Oceaneering International from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Oceaneering International has an average rating of “Hold” and an average target price of $28.25.

Oceaneering International Stock Performance

Shares of OII opened at $24.41 on Friday. Oceaneering International, Inc. has a 52 week low of $15.46 and a 52 week high of $30.98. The stock has a market cap of $2.45 billion, a P/E ratio of 12.33 and a beta of 1.55. The business’s 50 day moving average price is $21.95 and its 200-day moving average price is $20.70. The company has a quick ratio of 1.67, a current ratio of 2.00 and a debt-to-equity ratio of 0.57.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The company had revenue of $698.16 million during the quarter, compared to analyst estimates of $676.81 million. During the same period in the previous year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alan R. Curtis sold 14,840 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total value of $361,502.40. Following the completion of the sale, the chief financial officer directly owned 155,259 shares in the company, valued at $3,782,109.24. This represents a 8.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.10% of the company’s stock.

Oceaneering International 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.