Oceaneering International, Inc. $OII Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its position in Oceaneering International, Inc. (NYSE:OII) by 26.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,516 shares of the oil and gas company’s stock after selling 22,078 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.06% of Oceaneering International worth $2,217,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Morgan Stanley Institutional Investment Advisors LLC bought a new position in shares of Oceaneering International during the 4th quarter valued at about $94,847,000. Balyasny Asset Management L.P. raised its holdings in shares of Oceaneering International by 916.6% in 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in Oceaneering International by 94.7% during the third quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company’s stock valued at $18,930,000 after purchasing an additional 371,586 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in Oceaneering International by 210.8% during the third quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock valued at $12,190,000 after purchasing an additional 333,666 shares during the last quarter. Finally, Old West Investment Management LLC boosted its holdings in Oceaneering International by 128.2% during the fourth quarter. Old West Investment Management LLC now owns 543,271 shares of the oil and gas company’s stock worth $13,055,000 after buying an additional 305,168 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insider Activity

In other news, CEO Roderick A. Larson sold 5,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the sale, the chief executive officer owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

OII has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. Barclays raised their price objective on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Citigroup lifted their target price on Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, TD Cowen boosted their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.33.

Oceaneering International Stock Performance

Oceaneering International stock opened at $41.25 on Thursday. Oceaneering International, Inc. has a fifty-two week low of $20.21 and a fifty-two week high of $41.49. The firm’s 50 day simple moving average is $38.21 and its 200-day simple moving average is $34.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.08 and a quick ratio of 1.79. The company has a market cap of $4.11 billion, a P/E ratio of 12.24 and a beta of 1.15.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. During the same quarter last year, the company posted $0.43 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Oceaneering International, Inc. will post 1.89 EPS for the current year.

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.