South Dakota Investment Council Makes New Investment in Oceaneering International, Inc. $OII

South Dakota Investment Council purchased a new stake in shares of Oceaneering International, Inc. (NYSE:OII) in the third quarter, according to its most recent filing with the SEC. The firm purchased 41,600 shares of the oil and gas company’s stock, valued at approximately $1,031,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in Oceaneering International by 15.7% during the third quarter. Smartleaf Asset Management LLC now owns 3,464 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 469 shares during the last quarter. Profund Advisors LLC lifted its stake in Oceaneering International by 3.4% in the 2nd quarter. Profund Advisors LLC now owns 17,032 shares of the oil and gas company’s stock valued at $353,000 after buying an additional 559 shares in the last quarter. Bessemer Group Inc. lifted its stake in 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 valued at $48,000 after buying an additional 629 shares in the last quarter. California State Teachers Retirement System grew its holdings in Oceaneering International by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 93,342 shares of the oil and gas company’s stock valued at $1,934,000 after buying an additional 634 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Oceaneering International by 255.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OII. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Barclays upped their price objective on shares of Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Finally, TD Cowen boosted their price target on Oceaneering International from $28.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.33.

Oceaneering International Price Performance

Shares of Oceaneering International stock opened at $34.44 on Friday. The stock has a market capitalization of $3.42 billion, a P/E ratio of 9.84 and a beta of 1.18. The company has a current ratio of 1.99, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average price is $30.41 and its 200 day moving average price is $26.35. Oceaneering International, Inc. has a twelve month low of $15.46 and a twelve month high of $39.00.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The business had revenue of $668.57 million during the quarter, compared to analysts’ expectations of $678.16 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Karen H. Beachy sold 9,800 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $366,618.00. Following the completion of the sale, the director directly owned 22,816 shares in the company, valued at approximately $853,546.56. This represents a 30.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin Laura sold 5,106 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $36.88, for a total value of $188,309.28. Following the completion of the transaction, the chief operating officer directly owned 40,805 shares in the company, valued at $1,504,888.40. This trade represents a 11.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 140,844 shares of company stock valued at $4,972,594. 2.10% of the stock is owned by corporate insiders.

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.