AlphaQuest LLC Trims Stock Position in Oceaneering International, Inc. $OII

AlphaQuest LLC reduced its stake in Oceaneering International, Inc. (NYSE:OII) by 79.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,766 shares of the oil and gas company’s stock after selling 66,709 shares during the quarter. AlphaQuest LLC’s holdings in Oceaneering International were worth $440,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SummerHaven Investment Management LLC purchased a new position in Oceaneering International in the 3rd quarter valued at $967,000. EFG Asset Management North America Corp. lifted its stake in shares of Oceaneering International by 1.2% in the 3rd quarter. EFG Asset Management North America Corp. now owns 181,492 shares of the oil and gas company’s stock worth $4,496,000 after acquiring an additional 2,084 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Oceaneering International by 20.1% in the third quarter. Teacher Retirement System of Texas now owns 49,956 shares of the oil and gas company’s stock valued at $1,238,000 after acquiring an additional 8,345 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Oceaneering International by 44.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,012 shares of the oil and gas company’s stock worth $537,000 after acquiring an additional 6,814 shares during the period. Finally, Inspire Advisors LLC purchased a new position in Oceaneering International during the third quarter worth about $219,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insider Activity

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $26.35, for a total value of $768,234.25. Following the sale, the senior vice president directly owned 52,344 shares in the company, valued at $1,379,264.40. This represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Oceaneering International Trading Up 8.1%

NYSE:OII opened at $32.19 on Friday. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $32.37. The company has a quick ratio of 1.68, a current ratio of 1.97 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $26.81 and a 200-day simple moving average of $24.66. The company has a market capitalization of $3.21 billion, a PE ratio of 14.06 and a beta of 1.26.

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.