Concurrent Investment Advisors LLC Has $2.88 Million Holdings in Oceaneering International, Inc. $OII

Concurrent Investment Advisors LLC lessened its stake in Oceaneering International, Inc. (NYSE:OII) by 18.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,164 shares of the oil and gas company’s stock after selling 25,673 shares during the quarter. Concurrent Investment Advisors LLC owned about 0.12% of Oceaneering International worth $2,879,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in shares of Oceaneering International during the 3rd quarter worth about $26,000. EverSource Wealth Advisors LLC grew its holdings in Oceaneering International by 335.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 1,111 shares during the period. IFP Advisors Inc increased its stake in Oceaneering International by 11,380.8% in the second quarter. IFP Advisors Inc now owns 2,985 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,959 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Oceaneering International by 33.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,995 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 747 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Oceaneering International during the second quarter worth $92,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insider Buying and Selling

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the sale, the senior vice president directly owned 52,344 shares of the company’s stock, valued at $1,379,264.40. The trade was a 35.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.10% of the stock is owned by company insiders.

Oceaneering International Trading Down 0.1%

NYSE OII opened at $27.05 on Friday. Oceaneering International, Inc. has a 52 week low of $15.46 and a 52 week high of $27.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.68 and a current ratio of 1.97. The stock’s 50 day moving average price is $24.98 and its two-hundred day moving average price is $23.73. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 11.81 and a beta of 1.24.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.13. The company had revenue of $742.90 million during 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 quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. As a group, analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OII. Barclays raised their price objective on Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded 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. Finally, TD Cowen lifted their price target on shares of Oceaneering International from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.00.

About Oceaneering International

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.