Oppenheimer Asset Management Inc. Trims Holdings in Oceaneering International, Inc. (NYSE:OII)

Oppenheimer Asset Management Inc. lowered its holdings in Oceaneering International, Inc. (NYSE:OII) by 1.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 70,586 shares of the oil and gas company’s stock after selling 1,278 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Oceaneering International were worth $1,755,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in OII. Wedge Capital Management L L P NC lifted its stake in Oceaneering International by 0.7% in the second quarter. Wedge Capital Management L L P NC now owns 66,685 shares of the oil and gas company’s stock worth $1,578,000 after acquiring an additional 450 shares during the period. Arizona State Retirement System boosted its stake in shares of Oceaneering International by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 28,222 shares of the oil and gas company’s stock valued at $668,000 after purchasing an additional 540 shares in the last quarter. Shell Asset Management Co. increased its position in shares of Oceaneering International by 5.2% during the first quarter. Shell Asset Management Co. now owns 15,086 shares of the oil and gas company’s stock valued at $353,000 after buying an additional 749 shares during the period. Isthmus Partners LLC raised its stake in Oceaneering International by 0.9% in the second quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock worth $27,000 after buying an additional 968 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Oceaneering International by 9.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,500 shares of the oil and gas company’s stock worth $272,000 after buying an additional 1,013 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Price Performance

OII opened at $26.81 on Monday. The firm has a market cap of $2.71 billion, a PE ratio of 20.31 and a beta of 2.35. The stock has a 50-day moving average price of $25.40 and a 200-day moving average price of $24.86. Oceaneering International, Inc. has a 1 year low of $18.67 and a 1 year high of $30.45. 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 (NYSE:OII) last issued its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08). The firm had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. Sell-side analysts predict that Oceaneering International, Inc. will post 1.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays reduced 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. Benchmark reiterated a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a report on Friday, October 25th.

Insider Activity at Oceaneering International

In related news, Director Karen H. Beachy sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the sale, the director now directly owns 28,229 shares in the company, valued at approximately $647,573.26. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director M Kevin Mcevoy sold 9,675 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 141,837 shares in the company, valued at $3,704,782.44. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Oceaneering International Company Profile

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.