Algert Global LLC Has $16.10 Million Stake in Oceaneering International, Inc. $OII

Algert Global LLC boosted its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 74.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 649,747 shares of the oil and gas company’s stock after acquiring an additional 276,818 shares during the quarter. Algert Global LLC owned 0.65% of Oceaneering International worth $16,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Balyasny Asset Management L.P. grew its holdings in shares of Oceaneering International by 916.6% in the 2nd 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 purchasing an additional 1,227,950 shares during the last quarter. Brown Advisory Inc. lifted its holdings 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 during the last quarter. JPMorgan Chase & Co. boosted its position in Oceaneering International by 94.7% in the third quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company’s stock valued at $18,930,000 after buying an additional 371,586 shares in the last quarter. American Century Companies Inc. boosted its position in Oceaneering International by 8.1% in 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 in the last quarter. Finally, SummitTX Capital L.P. bought a new stake in Oceaneering International during the third quarter worth about $5,620,000. 93.93% of the stock is owned by institutional investors.

Oceaneering International Stock Down 6.0%

Shares of OII opened at $33.30 on Friday. The business’s fifty day moving average price is $31.69 and its two-hundred day moving average price is $26.86. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 9.51 and a beta of 1.18. Oceaneering International, Inc. has a 52 week low of $15.46 and a 52 week high of $39.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.72 and a current ratio of 1.99.

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 company had revenue of $668.57 million during the quarter, compared to the consensus estimate of $678.16 million. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Insider Activity

In other Oceaneering International news, SVP Earl Childress sold 22,518 shares of the company’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 transaction, the senior vice president directly owned 35,577 shares in the company, valued at approximately $1,330,935.57. This represents a 38.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Benjamin Laura sold 5,106 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $36.88, for a total transaction of $188,309.28. Following the completion of the transaction, the chief operating officer directly owned 40,805 shares in the company, valued at $1,504,888.40. This trade represents a 11.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 140,844 shares of company stock worth $4,972,594. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

OII has been the subject of several recent analyst reports. Weiss Ratings raised shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Barclays raised their price target on Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Zacks Research lowered Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Citigroup increased their target price on Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.67.

Oceaneering International 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.