Key Points
- CEO Roderick Larson sold 6,000 shares for $264,960 at an average price of $44.16, reducing his holdings by 1.53%; he retained 385,279 shares.
- Oceaneering reported quarterly EPS of $0.50, below the $0.59 consensus estimate, while revenue of $784.55 million topped forecasts and rose 5.6% year over year.
- Analyst views were mixed, but the overall rating was Moderate Buy, with a consensus price target of $41.00.
Oceaneering International, Inc. (NYSE:OII - Get Free Report) CEO Roderick Larson sold 6,000 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $44.16, for a total transaction of $264,960.00. Following the sale, the chief executive officer owned 385,279 shares of the company's stock, valued at approximately $17,013,920.64. This trade represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Oceaneering International Price Performance
Shares of NYSE OII opened at $38.20 on Wednesday. Oceaneering International, Inc. has a twelve month low of $22.13 and a twelve month high of $54.25. The firm has a fifty day simple moving average of $45.64 and a 200 day simple moving average of $40.34. The company has a market capitalization of $3.80 billion, a PE ratio of 11.61 and a beta of 1.30. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.40.
Oceaneering International (NYSE:OII - Get Free Report) last released its earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09). The firm had revenue of $784.55 million during the quarter, compared to analyst estimates of $775.93 million. Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. Oceaneering International's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. On average, sell-side analysts forecast that Oceaneering International, Inc. will post 2.10 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Oceaneering International in the second quarter worth $664,659,000. Morgan Stanley Institutional Investment Advisors LLC bought a new stake in Oceaneering International in the second quarter valued at $124,235,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Oceaneering International in the second quarter valued at $92,100,000. Reinhart Partners LLC. acquired a new position in shares of Oceaneering International during the second quarter valued at about $66,795,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Oceaneering International during the second quarter valued at about $45,658,000. 93.93% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
OII has been the subject of several research analyst reports. Zacks Research raised Oceaneering International from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. Barclays cut their target price on Oceaneering International from $47.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Monday, October 26th. Citigroup decreased their target price on Oceaneering International from $52.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, October 29th. Weiss Ratings downgraded Oceaneering International from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, October 14th. Finally, Wall Street Zen raised Oceaneering International from a "hold" rating to a "buy" rating in a research note on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Oceaneering International currently has an average rating of "Moderate Buy" and a consensus target price of $41.00.
Get Our Latest Stock Report on OII
About Oceaneering International
(
Get Free Report)
Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.
Oceaneering also develops advanced technologies for government and commercial customers.
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