Louisiana State Employees Retirement System Makes New $1.57 Million Investment in Oceaneering International, Inc. $OII

Louisiana State Employees Retirement System bought a new position in Oceaneering International, Inc. (NYSE:OII) during the first quarter, according to its most recent filing with the SEC. The firm bought 44,200 shares of the oil and gas company’s stock, valued at approximately $1,568,000.

A number of other large investors have also recently made changes to their positions in OII. Lido Advisors LLC raised its holdings in shares of Oceaneering International by 2.8% in the 4th quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company’s stock worth $299,000 after acquiring an additional 335 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Oceaneering International by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 54,458 shares of the oil and gas company’s stock worth $1,307,000 after purchasing an additional 380 shares in the last quarter. CSM Advisors LLC increased its holdings in Oceaneering International by 3.1% during the 3rd quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock worth $359,000 after purchasing an additional 428 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Oceaneering International by 2.9% in the fourth quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 545 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of Oceaneering International by 5.8% in the fourth quarter. State of Wyoming now owns 11,299 shares of the oil and gas company’s stock worth $272,000 after purchasing an additional 621 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 completion of the sale, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at approximately $15,203,867.33. The trade was a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

Oceaneering International Price Performance

NYSE:OII opened at $39.42 on Thursday. Oceaneering International, Inc. has a 52-week low of $20.21 and a 52-week high of $41.15. The stock has a fifty day moving average of $38.07 and a 200 day moving average of $33.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 11.70 and a beta of 1.15.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. Oceaneering International’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OII shares. Zacks Research cut shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. TD Cowen upped their target price on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Barclays upped their price objective on Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. Finally, Citigroup upped their price objective on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.33.

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.