Thrivent Financial for Lutherans Cuts Position in Oceaneering International, Inc. (NYSE:OII)

Thrivent Financial for Lutherans lowered its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,692 shares of the oil and gas company’s stock after selling 4,476 shares during the period. Thrivent Financial for Lutherans’ holdings in Oceaneering International were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. acquired a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $38,819,000. Earnest Partners LLC grew its holdings in shares of Oceaneering International by 21.0% in the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after acquiring an additional 1,105,263 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Oceaneering International by 101.6% in the 2nd quarter. Victory Capital Management Inc. now owns 550,077 shares of the oil and gas company’s stock worth $13,015,000 after acquiring an additional 277,247 shares during the period. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $6,106,000. Finally, American Century Companies Inc. grew its holdings in shares of Oceaneering International by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 2,022,378 shares of the oil and gas company’s stock worth $47,849,000 after acquiring an additional 239,701 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Trading Up 1.7 %

NYSE:OII opened at $29.79 on Friday. The business’s 50-day moving average is $26.23 and its two-hundred day moving average is $25.16. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. Oceaneering International, Inc. has a 12 month low of $18.67 and a 12 month high of $30.65. The firm has a market capitalization of $3.01 billion, a PE ratio of 22.57 and a beta of 2.35.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). The company had revenue of $679.81 million during the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. Research analysts predict that Oceaneering International, Inc. will post 1.39 earnings per share for the current fiscal year.

Insider Activity

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total value of $75,702.00. Following the completion of the transaction, the director now directly owns 28,229 shares in the company, valued at $647,573.26. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on OII. Benchmark restated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th. Barclays lowered their target price on Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, October 31st.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.