Old West Investment Management LLC Acquires 41,466 Shares of Oceaneering International, Inc. $OII

Old West Investment Management LLC raised its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 21.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 238,103 shares of the oil and gas company’s stock after acquiring an additional 41,466 shares during the period. Oceaneering International makes up approximately 1.4% of Old West Investment Management LLC’s holdings, making the stock its 24th biggest position. Old West Investment Management LLC’s holdings in Oceaneering International were worth $5,900,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new position in shares of Oceaneering International during the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Oceaneering International during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Oceaneering International by 255.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after buying an additional 1,000 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Oceaneering International by 47.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock worth $48,000 after buying an additional 629 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Price Performance

NYSE:OII opened at $32.19 on Friday. The business’s 50-day simple moving average is $26.81 and its two-hundred day simple moving average is $24.66. Oceaneering International, Inc. has a 52 week low of $15.46 and a 52 week high of $32.37. The stock has a market cap of $3.21 billion, a PE ratio of 14.06 and a beta of 1.26. The company has a quick ratio of 1.68, a current ratio of 1.97 and a debt-to-equity ratio of 0.53.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.35, for a total value of $768,234.25. Following the completion of the transaction, the senior vice president directly owned 52,344 shares in the company, valued at $1,379,264.40. This represents a 35.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Oceaneering International Company 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.