Oppenheimer Asset Management Inc. Makes New $2.84 Million Investment in Oceaneering International, Inc. $OII

Oppenheimer Asset Management Inc. purchased a new stake in shares of Oceaneering International, Inc. (NYSE:OII) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,143 shares of the oil and gas company’s stock, valued at approximately $2,842,000. Oppenheimer Asset Management Inc. owned 0.07% of Oceaneering International as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of OII. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Oceaneering International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock worth $1,312,000 after purchasing an additional 2,633 shares during the period. Empowered Funds LLC increased its stake in Oceaneering International by 1.9% during the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock valued at $2,634,000 after buying an additional 2,310 shares during the period. Strs Ohio acquired a new position in Oceaneering International during the 1st quarter valued at about $168,000. Norges Bank bought a new stake in shares of Oceaneering International during the 2nd quarter worth about $1,485,000. Finally, Invesco Ltd. raised its position in shares of Oceaneering International by 8.0% during the 2nd quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock worth $13,472,000 after buying an additional 48,382 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Stock Performance

NYSE:OII opened at $52.08 on Friday. Oceaneering International, Inc. has a twelve month low of $22.02 and a twelve month high of $53.98. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $43.16 and a 200-day moving average of $38.36. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 14.97 and a beta of 1.15.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OII shares. Barclays increased their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. TD Cowen boosted their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Finally, Citigroup lifted their price target on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.00.

Insiders Place Their Bets

In other Oceaneering International news, SVP Earl Childress sold 12,701 shares of Oceaneering International stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total value of $593,263.71. Following the transaction, the senior vice president owned 22,876 shares in the company, valued at approximately $1,068,537.96. The trade was a 35.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher J. Dyer sold 1,200 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total value of $57,180.00. Following the completion of the transaction, the senior vice president directly owned 14,702 shares in the company, valued at $700,550.30. This represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 31,901 shares of company stock worth $1,469,254. Company insiders own 1.30% of the company’s stock.

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.