Strs Ohio Purchases 22,100 Shares of Oceaneering International, Inc. $OII

Strs Ohio boosted its position in shares of Oceaneering International, Inc. (NYSE:OII) by 22,100.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,200 shares of the oil and gas company’s stock after buying an additional 22,100 shares during the period. Strs Ohio’s holdings in Oceaneering International were worth $787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new stake in shares of Oceaneering International during the 1st quarter worth approximately $504,000. Pictet Asset Management Holding SA increased its stake in Oceaneering International by 32.6% in the first quarter. Pictet Asset Management Holding SA now owns 16,345 shares of the oil and gas company’s stock valued at $580,000 after acquiring an additional 4,016 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Oceaneering International during the first quarter valued at approximately $1,568,000. Andina Capital Management LLC acquired a new position in Oceaneering International during the first quarter valued at approximately $524,000. Finally, Diversified Trust Co lifted its stake in Oceaneering International by 21.7% during the first quarter. Diversified Trust Co now owns 20,781 shares of the oil and gas company’s stock worth $737,000 after purchasing an additional 3,707 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. TD Cowen raised their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Citigroup lifted their target price on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Finally, Barclays boosted their target price 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. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.33.

Oceaneering International Stock Performance

NYSE:OII opened at $41.25 on Thursday. The stock’s 50-day moving average is $38.21 and its 200-day moving average is $34.40. Oceaneering International, Inc. has a 1-year low of $20.21 and a 1-year high of $41.49. The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44. The stock 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 data on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. During the same quarter last year, the business earned $0.43 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that Oceaneering International, Inc. will post 1.89 earnings per share for the current year.

Insider Activity

In other news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the transaction, the chief executive officer owned 397,279 shares in the company, valued at approximately $15,203,867.33. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

About Oceaneering International

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.