Janney Montgomery Scott LLC Takes Position in Oceaneering International, Inc. $OII

Janney Montgomery Scott LLC acquired a new position in Oceaneering International, Inc. (NYSE:OII) in the 1st quarter, Holdings Channel.com reports. The firm acquired 14,215 shares of the oil and gas company’s stock, valued at approximately $504,000.

Other institutional investors also recently bought and sold shares of the company. Morgan Stanley Institutional Investment Advisors LLC purchased a new position in Oceaneering International during the fourth quarter valued at $94,847,000. Balyasny Asset Management L.P. increased its position in Oceaneering International by 916.6% in the second 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 buying an additional 1,227,950 shares in the last quarter. JPMorgan Chase & Co. increased its position in Oceaneering International by 94.7% in the third quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company’s stock worth $18,930,000 after buying an additional 371,586 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Oceaneering International by 210.8% in the third quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock worth $12,190,000 after buying an additional 333,666 shares during the period. Finally, Old West Investment Management LLC raised its stake in shares of Oceaneering International by 128.2% in 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 during the period. 93.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Oceaneering International Price Performance

OII stock opened at $42.74 on Thursday. Oceaneering International, Inc. has a 52 week low of $20.21 and a 52 week high of $44.22. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $38.74 and a two-hundred day simple moving average of $35.04. The firm has a market capitalization of $4.26 billion, a P/E ratio of 12.68 and a beta of 1.15.

Oceaneering International (NYSE:OII) last posted 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). The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. Analysts anticipate that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction dated 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 transaction, the chief executive officer owned 397,279 shares in the company, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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.