Oceaneering International, Inc. $OII Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,329,295 shares of the oil and gas company’s stock after purchasing an additional 85,159 shares during the period. Van ECK Associates Corp owned 1.33% of Oceaneering International worth $32,940,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC acquired a new stake in Oceaneering International in the 3rd quarter valued at $26,000. Wilmington Savings Fund Society FSB purchased a new position in Oceaneering International in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC raised its stake 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 worth $30,000 after purchasing an additional 1,111 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in 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 purchasing an additional 1,000 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Oceaneering International by 47.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 629 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Stock Down 2.2%

OII stock opened at $35.33 on Thursday. Oceaneering International, Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $39.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 10.09 and a beta of 1.18. The business’s fifty day moving average price is $31.29 and its two-hundred day moving average price is $26.71.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $668.57 million for the quarter, compared to the consensus estimate of $678.16 million. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. Oceaneering International’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share. On average, equities analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Insider Activity at Oceaneering International

In related news, COO Benjamin Laura sold 5,106 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was 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 owned 40,805 shares of the company’s stock, valued at $1,504,888.40. The trade was a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Earl Childress sold 22,518 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $842,398.38. Following the sale, the senior vice president owned 35,577 shares in the company, valued at $1,330,935.57. The trade was a 38.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 140,844 shares of company stock worth $4,972,594 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on OII. Citigroup raised their price objective on shares of Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday. Weiss Ratings upgraded Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. TD Cowen lifted their price target on shares of Oceaneering International from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Finally, Zacks Research cut shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.67.

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.