Key Points
- CEO Roderick Larson sold 5,000 shares of Oceaneering International stock at an average price of $38.27, totaling about $191,350. After the sale, he still owned 397,279 shares, a 1.24% reduction in his stake.
- The stock was down 1.4% and opened at $37.99, near its 12-month high of $40.12. Oceaneering currently has a market cap of $3.79 billion and a P/E ratio of 11.27.
- Recent earnings were mixed: the company reported $0.30 EPS versus expectations of $0.35, but revenue came in above estimates at $692.43 million. Analysts currently have an average rating of “Hold” with a $36.67 price target.
Oceaneering International, Inc. (NYSE:OII - Get Free Report) CEO Roderick Larson sold 5,000 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the sale, the chief executive officer owned 397,279 shares in the company, valued at $15,203,867.33. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Oceaneering International Stock Down 1.4%
Shares of NYSE OII opened at $37.99 on Wednesday. The firm's 50-day moving average price is $36.51 and its 200-day moving average price is $30.87. The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 11.27 and a beta of 1.17. Oceaneering International, Inc. has a 12-month low of $18.45 and a 12-month high of $40.12.
Oceaneering International (NYSE:OII - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The business had revenue of $692.43 million for the quarter, compared to analysts' expectations of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 earnings per share. On average, equities research analysts anticipate that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.
Hedge Funds Weigh In On Oceaneering International
Hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC bought a new position in Oceaneering International in the 3rd quarter worth about $967,000. Essex Investment Management Co. LLC grew its stake in Oceaneering International by 58.7% in the 3rd quarter. Essex Investment Management Co. LLC now owns 159,261 shares of the oil and gas company's stock worth $3,946,000 after acquiring an additional 58,925 shares in the last quarter. CenterBook Partners LP bought a new position in shares of Oceaneering International during the third quarter valued at approximately $409,000. Public Sector Pension Investment Board boosted its stake in shares of Oceaneering International by 14.0% during the third quarter. Public Sector Pension Investment Board now owns 390,866 shares of the oil and gas company's stock valued at $9,686,000 after purchasing an additional 47,922 shares in the last quarter. Finally, Old West Investment Management LLC boosted its stake in shares of Oceaneering International by 21.1% during the third quarter. Old West Investment Management LLC now owns 238,103 shares of the oil and gas company's stock valued at $5,900,000 after purchasing an additional 41,466 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Oceaneering International from $32.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. TD Cowen increased their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a "hold" rating in a research report on Thursday, April 30th. Weiss Ratings raised shares of Oceaneering International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. Finally, Citigroup increased their price objective on shares of Oceaneering International from $25.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $36.67.
Check Out Our Latest Stock Analysis on Oceaneering International
About Oceaneering International
(
Get Free Report)
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.
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