Oceaneering International, Inc. $OII Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in Oceaneering International, Inc. (NYSE:OII) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,135 shares of the oil and gas company’s stock after selling 540 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Oceaneering International were worth $562,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Brown Advisory Inc. raised its position in Oceaneering International by 27.6% in the 1st quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company’s stock valued at $142,767,000 after purchasing an additional 1,416,251 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Oceaneering International in the first quarter valued at about $11,993,000. Boston Trust Walden Corp acquired a new stake in shares of Oceaneering International during the second quarter worth about $10,901,000. American Century Companies Inc. boosted its stake in shares of 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 buying an additional 271,868 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in shares of Oceaneering International during the first quarter worth about $5,039,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Oceaneering International

In related news, CFO Alan R. Curtis sold 14,840 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total value of $361,502.40. Following the sale, the chief financial officer directly owned 155,259 shares of the company’s stock, valued at approximately $3,782,109.24. This represents a 8.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by corporate insiders.

Oceaneering International Price Performance

Shares of NYSE OII opened at $23.27 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.68 and a current ratio of 1.97. Oceaneering International, Inc. has a one year low of $15.46 and a one year high of $30.98. The firm has a market capitalization of $2.32 billion, a P/E ratio of 10.16 and a beta of 1.50. The company’s fifty day moving average is $24.04 and its two-hundred day moving average is $21.70.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, October 22nd. The oil and gas company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.13. The firm had revenue of $742.90 million for the quarter, compared to the consensus estimate of $709.48 million. Oceaneering International had a net margin of 8.21% and a return on equity of 22.94%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on OII. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a research note on Wednesday, October 8th. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Barclays lifted their price objective on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Citigroup upped their price objective 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. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.00.

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.