Dynamic Technology Lab Private Ltd Invests $457,000 in Oceaneering International, Inc. $OII

Dynamic Technology Lab Private Ltd bought a new position in Oceaneering International, Inc. (NYSE:OII) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,457 shares of the oil and gas company’s stock, valued at approximately $457,000.

Several other institutional investors have also added to or reduced their stakes in the company. Natixis Advisors LLC boosted its position in shares of Oceaneering International by 7.5% during the 3rd quarter. Natixis Advisors LLC now owns 40,668 shares of the oil and gas company’s stock valued at $1,008,000 after acquiring an additional 2,824 shares during the last quarter. Blair William & Co. IL bought a new stake in Oceaneering International in the third quarter worth $247,000. Legacy Capital Group California Inc. purchased a new stake in Oceaneering International during the third quarter valued at $233,000. Neo Ivy Capital Management bought a new position in Oceaneering International during the third quarter valued at $207,000. Finally, Gabelli Funds LLC lifted its position in Oceaneering International by 3.0% during the third quarter. Gabelli Funds LLC now owns 188,365 shares of the oil and gas company’s stock valued at $4,668,000 after purchasing an additional 5,500 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Price Performance

OII opened at $35.33 on Thursday. The business has a fifty day moving average of $31.29 and a 200 day moving average of $26.71. The stock has a market cap of $3.51 billion, a P/E ratio of 10.09 and a beta of 1.18. The company has a quick ratio of 1.72, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $39.00.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $668.57 million for the quarter, compared to analyst estimates of $678.16 million. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. As a group, sell-side analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

OII has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Oceaneering International from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Citigroup increased their price target on shares of Oceaneering International from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays lifted their price target on Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Zacks Research downgraded Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings raised Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.67.

Insider Buying and Selling

In related news, COO Benjamin Laura sold 33,176 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $37.51, for a total value of $1,244,431.76. Following the transaction, the chief operating officer owned 45,911 shares of the company’s stock, valued at $1,722,121.61. This trade represents a 41.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Earl Childress sold 22,518 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total transaction of $842,398.38. Following the completion of the sale, the senior vice president directly owned 35,577 shares of the company’s stock, valued at approximately $1,330,935.57. This trade represents a 38.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 140,844 shares of company stock worth $4,972,594 over the last ninety days. 2.10% of the stock is owned by insiders.

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.