Fort Washington Investment Advisors Inc. OH Cuts Stake in Oceaneering International, Inc. $OII

Fort Washington Investment Advisors Inc. OH reduced its position in Oceaneering International, Inc. (NYSE:OII) by 34.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 856,644 shares of the oil and gas company’s stock after selling 445,148 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.86% of Oceaneering International worth $20,585,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new position in Oceaneering International during the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Oceaneering International by 335.6% in the 2nd 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 during the period. Quarry LP bought a new position in shares of Oceaneering International during the third quarter valued at approximately $30,000. Finally, SBI Securities Co. Ltd. increased its holdings in Oceaneering International by 255.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 1,000 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Price Performance

NYSE OII opened at $36.32 on Friday. The firm’s fifty day simple moving average is $33.45 and its two-hundred day simple moving average is $27.62. The firm has a market capitalization of $3.61 billion, a P/E ratio of 10.38 and a beta of 1.18. The company has a current ratio of 1.99, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. Oceaneering International, Inc. has a 12-month low of $15.46 and a 12-month high of $39.00.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The firm had revenue of $668.57 million during the quarter, compared to analyst estimates of $678.16 million. During the same quarter in the prior year, the business posted $0.37 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Holly Kriendler sold 5,798 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $37.31, for a total value of $216,323.38. Following the completion of the transaction, the senior vice president directly owned 24,702 shares of the company’s stock, valued at $921,631.62. This trade represents a 19.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen H. Beachy sold 9,800 shares of Oceaneering International stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $366,618.00. Following the completion of the sale, the director owned 22,816 shares of the company’s stock, valued at $853,546.56. This trade represents a 30.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 140,844 shares of company stock valued at $4,972,594 in the last 90 days. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OII shares. Weiss Ratings upgraded Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Citigroup boosted their price target on Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Zacks Research downgraded Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, TD Cowen lifted their target price on Oceaneering International from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.