Key Points
- CEO Roderick Larson sold 6,000 Oceaneering shares at an average price of $44.16, generating $264,960 and reducing his position by 1.51% to 391,279 shares.
- Oceaneering reported quarterly EPS of $0.63, beating estimates of $0.46, while revenue rose 10% year over year to $768.18 million.
- The stock carries a consensus “Hold” rating from analysts, with a $45 average price target; institutional investors own 93.93% of outstanding shares.
Oceaneering International, Inc. (NYSE:OII - Get Free Report) CEO Roderick Larson sold 6,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $44.16, for a total transaction of $264,960.00. Following the transaction, the chief executive officer owned 391,279 shares of the company's stock, valued at $17,278,880.64. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Oceaneering International Stock Performance
Oceaneering International stock opened at $45.70 on Tuesday. The company's 50-day moving average price is $49.05 and its 200-day moving average price is $42.26. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. The company has a market cap of $4.55 billion, a PE ratio of 13.13 and a beta of 1.25. Oceaneering International, Inc. has a twelve month low of $22.02 and a twelve month high of $54.25.
Oceaneering International (NYSE:OII - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.17. The firm had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. On average, equities research analysts forecast that Oceaneering International, Inc. will post 2.1 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the business. EP Wealth Advisors LLC purchased a new stake in shares of Oceaneering International during the second quarter valued at $855,000. Great Lakes Advisors LLC bought a new position in shares of Oceaneering International in the second quarter worth about $445,000. Bank of America Corp DE purchased a new position in Oceaneering International in the 2nd quarter worth about $14,783,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Oceaneering International in the 2nd quarter worth about $2,889,000. Finally, Fifth Third Bancorp lifted its holdings in Oceaneering International by 6,782.5% during the 1st quarter. Fifth Third Bancorp now owns 29,526 shares of the oil and gas company's stock valued at $1,047,000 after buying an additional 29,097 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on OII. Citigroup lifted their target price on Oceaneering International from $40.00 to $52.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Barclays increased their price target on Oceaneering International from $39.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Weiss Ratings upgraded Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. Finally, Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $45.00.
Read Our Latest Stock Report on Oceaneering International
Oceaneering International Company Profile
(
Get Free Report)
Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.
Oceaneering's subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.
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