Bank of New York Mellon Corp Sells 14,975 Shares of Oceaneering International, Inc. $OII

Bank of New York Mellon Corp decreased its stake in Oceaneering International, Inc. (NYSE:OII) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 755,271 shares of the oil and gas company’s stock after selling 14,975 shares during the period. Bank of New York Mellon Corp owned 0.76% of Oceaneering International worth $26,789,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of OII. Illinois Municipal Retirement Fund grew its holdings in Oceaneering International by 5.5% during the first quarter. Illinois Municipal Retirement Fund now owns 51,096 shares of the oil and gas company’s stock valued at $1,812,000 after purchasing an additional 2,650 shares during the period. Goehring & Rozencwajg Associates LLC raised its stake in shares of Oceaneering International by 25.5% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 713,586 shares of the oil and gas company’s stock valued at $25,311,000 after buying an additional 144,852 shares during the period. Meridian Management Co. purchased a new position in shares of Oceaneering International during the 1st quarter valued at $284,000. Bleakley Financial Group LLC grew its stake in shares of Oceaneering International by 9.1% during the 1st quarter. Bleakley Financial Group LLC now owns 19,614 shares of the oil and gas company’s stock worth $696,000 after acquiring an additional 1,639 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Oceaneering International by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 585,358 shares of the oil and gas company’s stock worth $20,763,000 after acquiring an additional 8,536 shares during the period. 93.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

OII has been the topic of a number of research reports. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup increased their target price on shares of Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. TD Cowen lifted their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Barclays upped their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.00.

Insiders Place Their Bets

In related news, CEO Roderick A. Larson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the sale, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Oceaneering International Stock Performance

NYSE:OII opened at $52.16 on Tuesday. The stock has a market cap of $5.20 billion, a P/E ratio of 14.99 and a beta of 1.15. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $40.08 and its two-hundred day moving average price is $36.25. Oceaneering International, Inc. has a twelve month low of $20.79 and a twelve month high of $53.98.

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.