Morgan Stanley Institutional Investment Advisors LLC Buys Shares of 3,066,015 Oceaneering International, Inc. $OII

Morgan Stanley Institutional Investment Advisors LLC bought a new position in Oceaneering International, Inc. (NYSE:OII) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,066,015 shares of the oil and gas company’s stock, valued at approximately $124,235,000. Oceaneering International accounts for 11.6% of Morgan Stanley Institutional Investment Advisors LLC’s holdings, making the stock its 4th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Oceaneering International in the third quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its position in 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 valued at $30,000 after purchasing an additional 1,111 shares during the period. Quarry LP purchased a new position in Oceaneering International during the 3rd quarter valued at about $30,000. Allworth Financial LP bought a new stake in shares of Oceaneering International in the 2nd quarter valued at about $42,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Oceaneering International in the 1st quarter valued at about $53,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OII shares. Wall Street Zen downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. TD Cowen upped 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. Barclays increased their target price on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Finally, Citigroup lifted their price objective on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

Insiders Place Their Bets

In other news, SVP Earl Childress sold 12,701 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $46.71, for a total transaction of $593,263.71. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Kevin Mcevoy sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.92, for a total transaction of $143,760.00. Following the transaction, the director owned 134,133 shares in the company, valued at approximately $6,427,653.36. This trade represents a 2.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,901 shares of company stock worth $1,277,904 in the last three months. Insiders own 1.30% of the company’s stock.

Oceaneering International Stock Performance

Shares of OII opened at $53.01 on Monday. 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 firm has a market cap of $5.28 billion, a PE ratio of 15.23 and a beta of 1.15. Oceaneering International, Inc. has a 12 month low of $22.02 and a 12 month high of $54.25. The stock has a fifty day moving average price of $44.53 and a 200-day moving average price of $39.23.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.17. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The firm had revenue of $768.18 million for the quarter, compared to the consensus estimate of $735.69 million. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts predict that Oceaneering International, Inc. will post 2.1 earnings per share for the current fiscal year.

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.