Old West Investment Management LLC Buys 41,466 Shares of Oceaneering International, Inc. $OII

Old West Investment Management LLC raised its position in shares of Oceaneering International, Inc. (NYSE:OII) by 21.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 238,103 shares of the oil and gas company’s stock after acquiring an additional 41,466 shares during the quarter. Oceaneering International makes up approximately 1.4% of Old West Investment Management LLC’s holdings, making the stock its 24th largest position. Old West Investment Management LLC owned 0.24% of Oceaneering International worth $5,900,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OII. Salomon & Ludwin LLC purchased a new position in shares of Oceaneering International in the 3rd quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Oceaneering International in the third quarter worth $28,000. EverSource Wealth Advisors LLC raised its holdings in Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 1,111 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Oceaneering International by 255.1% in the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Oceaneering International by 47.5% during the third quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 629 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Up 8.1%

Shares of Oceaneering International stock opened at $32.19 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. The stock has a market capitalization of $3.21 billion, a PE ratio of 14.06 and a beta of 1.26. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $32.37. The company has a 50-day simple moving average of $26.81 and a two-hundred day simple moving average of $24.66.

Insider Transactions at Oceaneering International

In related news, SVP Jennifer Fremont Simons sold 29,155 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.35, for a total value of $768,234.25. Following the transaction, the senior vice president directly owned 52,344 shares of the company’s stock, valued at approximately $1,379,264.40. This represents a 35.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on OII. Wall Street Zen downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays boosted 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a research note on Monday, December 29th. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, TD Cowen upped their price target on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.