Oceaneering International, Inc. $OII Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 79.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,766 shares of the oil and gas company’s stock after selling 66,709 shares during the quarter. AlphaQuest LLC’s holdings in Oceaneering International were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. boosted its stake in shares of Oceaneering International by 916.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock worth $28,219,000 after purchasing an additional 1,227,950 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Oceaneering International by 12.2% during the second quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock valued at $152,202,000 after buying an additional 799,718 shares during the period. Boston Trust Walden Corp acquired a new stake in Oceaneering International during the second quarter worth approximately $10,901,000. American Century Companies Inc. grew its stake in Oceaneering International by 8.2% in the 2nd quarter. American Century Companies Inc. now owns 3,370,206 shares of the oil and gas company’s stock worth $69,831,000 after acquiring an additional 256,628 shares during the period. Finally, Greenhouse Funds LLLP raised its holdings in Oceaneering International by 9.9% in the 2nd quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock valued at $51,630,000 after acquiring an additional 223,724 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OII has been the topic of several analyst reports. TD Cowen raised their price objective on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Wall Street Zen downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Oceaneering International in a report on Monday, December 29th. Finally, Barclays boosted their target price on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Oceaneering International presently has an average rating of “Hold” and an average price target of $25.00.

Insider Activity

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $26.35, for a total value of $768,234.25. Following the transaction, the senior vice president owned 52,344 shares of the company’s stock, valued at approximately $1,379,264.40. This trade represents a 35.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.10% of the stock is owned by insiders.

Oceaneering International Stock Up 8.1%

OII opened at $32.19 on Friday. The firm has a 50 day moving average price of $26.81 and a 200 day moving average price of $24.66. The company has a market cap of $3.21 billion, a PE ratio of 14.06 and a beta of 1.26. Oceaneering International, Inc. has a 1 year low of $15.46 and a 1 year high of $32.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.68 and a current ratio of 1.97.

Oceaneering International Profile

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.