Harbor Capital Advisors Inc. Cuts Position in Oceaneering International, Inc. $OII

Harbor Capital Advisors Inc. lessened its stake in Oceaneering International, Inc. (NYSE:OII) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,966 shares of the oil and gas company’s stock after selling 1,078 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Oceaneering International were worth $497,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in OII. Brown Advisory Inc. raised its position in Oceaneering International by 27.6% during the first quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company’s stock worth $142,767,000 after acquiring an additional 1,416,251 shares during the last quarter. Nuveen LLC acquired a new position in Oceaneering International during the first quarter worth about $11,993,000. American Century Companies Inc. raised its position in Oceaneering International by 9.6% during the first quarter. American Century Companies Inc. now owns 3,113,578 shares of the oil and gas company’s stock worth $67,907,000 after acquiring an additional 271,868 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Oceaneering International during the first quarter worth about $5,039,000. Finally, Old West Investment Management LLC raised its position in Oceaneering International by 338.7% during the first quarter. Old West Investment Management LLC now owns 263,200 shares of the oil and gas company’s stock worth $5,740,000 after acquiring an additional 203,200 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insiders Place Their Bets

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of Oceaneering International stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total transaction of $361,502.40. Following the transaction, the chief financial officer directly owned 155,259 shares of the company’s stock, valued at $3,782,109.24. The trade was a 8.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Oceaneering International Trading Down 1.3%

Shares of OII stock opened at $24.32 on Friday. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 12.28 and a beta of 1.64. 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, Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $30.98. The firm’s 50 day moving average price is $22.89 and its two-hundred day moving average price is $20.83.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OII shares. Barclays lifted their target price on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Citigroup lifted their target price on shares of Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. Finally, Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Oceaneering International currently has an average rating of “Hold” and an average price target of $27.00.

Oceaneering International Company 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.