Oceaneering International (NYSE:OII) Trading Down 3.4%

Oceaneering International, Inc. (NYSE:OII)’s share price dropped 3.4% during trading on Thursday . The stock traded as low as $24.13 and last traded at $24.20. Approximately 152,793 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 825,059 shares. The stock had previously closed at $25.06.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OII shares. Benchmark restated a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a report on Thursday, July 25th. Barclays increased their price objective on shares of Oceaneering International from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Finally, Citigroup boosted their target price on Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd.

Oceaneering International Price Performance

The company has a market capitalization of $2.51 billion, a PE ratio of 23.38 and a beta of 2.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.72 and a quick ratio of 1.42. The stock’s 50 day simple moving average is $26.03 and its 200-day simple moving average is $24.22.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $668.81 million for the quarter, compared to analyst estimates of $656.87 million. Oceaneering International had a return on equity of 15.78% and a net margin of 4.87%. Oceaneering International’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. As a group, equities analysts forecast that Oceaneering International, Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Activity at Oceaneering International

In related news, Director M Kevin Mcevoy sold 9,675 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total value of $252,711.00. Following the sale, the director now owns 141,837 shares of the company’s stock, valued at $3,704,782.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Oceaneering International news, Director M Kevin Mcevoy sold 9,675 shares of Oceaneering International stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total transaction of $252,711.00. Following the completion of the sale, the director now directly owns 141,837 shares of the company’s stock, valued at approximately $3,704,782.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen H. Beachy sold 3,300 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total value of $75,702.00. Following the transaction, the director now directly owns 28,229 shares of the company’s stock, valued at $647,573.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,975 shares of company stock worth $585,413. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

Several hedge funds have recently added to or reduced their stakes in OII. Norges Bank acquired a new position in shares of Oceaneering International in the 4th quarter valued at $15,161,000. Boulder Hill Capital Management LP purchased a new position in shares of Oceaneering International during the fourth quarter worth about $543,000. Seven Eight Capital LP acquired a new stake in shares of Oceaneering International during the fourth quarter worth about $409,000. Appian Way Asset Management LP purchased a new stake in shares of Oceaneering International in the 4th quarter valued at about $1,620,000. Finally, Hawk Ridge Capital Management LP acquired a new stake in shares of Oceaneering International in the 4th quarter valued at about $8,884,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.