Federated Hermes Inc. Lowers Stake in Oceaneering International, Inc. $OII

Federated Hermes Inc. lessened its holdings in Oceaneering International, Inc. (NYSE:OII) by 45.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,738 shares of the oil and gas company’s stock after selling 52,408 shares during the period. Federated Hermes Inc. owned about 0.06% of Oceaneering International worth $1,579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of OII. Balyasny Asset Management L.P. grew its holdings in Oceaneering International by 916.6% in the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock valued at $28,219,000 after purchasing an additional 1,227,950 shares during the period. Brown Advisory Inc. lifted its position in shares of 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 buying an additional 799,718 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in Oceaneering International in the 2nd quarter valued at $10,901,000. American Century Companies Inc. increased its holdings in Oceaneering International by 8.2% in the 2nd quarter. American Century Companies Inc. now owns 3,370,206 shares of the oil and gas company’s stock worth $69,831,000 after acquiring an additional 256,628 shares in the last quarter. Finally, Greenhouse Funds LLLP raised its position in Oceaneering International by 9.9% during the second quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock worth $51,630,000 after acquiring an additional 223,724 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insider Activity at Oceaneering International

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the transaction, the senior vice president owned 52,344 shares of the company’s stock, valued at approximately $1,379,264.40. The trade was a 35.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.

Oceaneering International Price Performance

NYSE:OII opened at $30.90 on Thursday. Oceaneering International, Inc. has a one year low of $15.46 and a one year high of $31.91. The stock has a market cap of $3.08 billion, a PE ratio of 13.49 and a beta of 1.26. 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 50 day moving average price of $26.55 and a 200 day moving average price of $24.55.

Analyst Ratings Changes

Several analysts have recently issued reports on OII shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Oceaneering International in a research report on Monday, December 29th. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Barclays lifted their price target on Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Finally, TD Cowen boosted their price target on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.