Squarepoint Ops LLC Has $4.68 Million Stake in Oceaneering International, Inc. (NYSE:OII)

Squarepoint Ops LLC increased its position in Oceaneering International, Inc. (NYSE:OII) by 84.5% in the second quarter, HoldingsChannel reports. The firm owned 197,579 shares of the oil and gas company’s stock after acquiring an additional 90,516 shares during the period. Squarepoint Ops LLC’s holdings in Oceaneering International were worth $4,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. boosted its stake in Oceaneering International by 18.8% in the 1st quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company’s stock worth $27,296,000 after purchasing an additional 184,300 shares during the period. Hawk Ridge Capital Management LP purchased a new stake in Oceaneering International in the 4th quarter worth approximately $8,884,000. Empowered Funds LLC purchased a new stake in Oceaneering International in the 1st quarter worth approximately $2,131,000. Appian Way Asset Management LP purchased a new stake in Oceaneering International in the 4th quarter worth approximately $1,620,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Oceaneering International by 20.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 709,764 shares of the oil and gas company’s stock worth $16,609,000 after buying an additional 122,400 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Stock Up 0.4 %

Oceaneering International stock opened at $24.87 on Tuesday. The company has a market capitalization of $2.52 billion, a P/E ratio of 23.46 and a beta of 2.35. The firm’s fifty day simple moving average is $26.00 and its 200-day simple moving average is $24.29. The company has a current ratio of 1.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.73. Oceaneering International, Inc. has a 1-year low of $18.67 and a 1-year high of $30.45.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share 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 the consensus estimate of $656.87 million. Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. Sell-side analysts forecast that Oceaneering International, Inc. will post 1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OII has been the subject of a number of research analyst reports. Barclays increased their target price 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. Citigroup increased their target price on shares of Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Benchmark reiterated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research report on Thursday, July 25th.

Insider Buying and Selling

In related news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the transaction, the director now owns 28,229 shares in the company, valued at approximately $647,573.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the transaction, the director now owns 28,229 shares in the company, valued at approximately $647,573.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Earl Childress sold 10,000 shares of Oceaneering International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total transaction of $257,000.00. Following the completion of the transaction, the senior vice president now owns 57,351 shares in the company, valued at approximately $1,473,920.70. The disclosure for this sale can be found here. Insiders have sold 22,975 shares of company stock worth $585,413 in the last quarter. 2.30% of the stock is currently owned by company insiders.

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.