Jennifer Fremont Simons Sells 29,155 Shares of Oceaneering International (NYSE:OII) Stock

Oceaneering International, Inc. (NYSE:OII) SVP Jennifer Fremont Simons sold 29,155 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.35, for a total value of $768,234.25. Following the transaction, the senior vice president owned 52,344 shares of the company’s stock, valued at $1,379,264.40. This represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Oceaneering International Price Performance

Oceaneering International stock opened at $25.66 on Thursday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 11.21 and a beta of 1.24. The firm’s fifty day moving average is $24.54 and its 200 day moving average is $23.49. The company has a quick ratio of 1.68, a current ratio of 1.97 and a debt-to-equity ratio of 0.53. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $27.77.

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

Institutional Trading of Oceaneering International

Large investors have recently modified their holdings of the company. Brown Advisory Inc. raised its position in Oceaneering International by 12.2% during the 2nd quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock valued at $152,202,000 after purchasing an additional 799,718 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Oceaneering International by 8.1% during the third quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company’s stock valued at $90,270,000 after buying an additional 272,667 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Oceaneering International by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 3,285,951 shares of the oil and gas company’s stock valued at $81,429,000 after acquiring an additional 98,333 shares in the last quarter. Greenhouse Funds LLLP lifted its stake in Oceaneering International by 9.9% in the second quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock worth $51,630,000 after acquiring an additional 223,724 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in Oceaneering International by 916.6% in the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock worth $28,219,000 after acquiring an additional 1,227,950 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on OII. Barclays lifted their price objective on shares of Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday, December 29th. TD Cowen boosted their target price on Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Finally, Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.00.

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.