Jupiter Topco LLC Takes $6.33 Million Position in Oceaneering International, Inc. $OII

Jupiter Topco LLC bought a new stake in Oceaneering International, Inc. (NYSE:OII) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 156,318 shares of the oil and gas company’s stock, valued at approximately $6,333,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in Oceaneering International during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of Oceaneering International by 335.6% in the second 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 shares of Oceaneering International in the third quarter worth about $30,000. Allworth Financial LP purchased a new position in shares of Oceaneering International in the second quarter worth about $42,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Oceaneering International during the first quarter worth 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 research analysts recently commented on OII shares. Citigroup upped their target price on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Wall Street Zen cut 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 report on Friday, August 14th. Finally, Barclays raised their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.00.

Insider Activity

In other news, SVP Christopher J. Dyer sold 1,200 shares of Oceaneering International stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the completion of the transaction, the senior vice president directly owned 14,702 shares of the company’s stock, valued at $700,550.30. The trade was a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $48.37, for a total transaction of $483,700.00. Following the completion of the transaction, the director owned 68,916 shares of the company’s stock, valued at approximately $3,333,466.92. This represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,901 shares of company stock worth $1,277,904 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Oceaneering International Stock Up 2.3%

Oceaneering International stock opened at $51.73 on Tuesday. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 14.86 and a beta of 1.15. Oceaneering International, Inc. has a 52 week low of $22.02 and a 52 week high of $54.25. The business’s 50-day moving average price is $46.22 and its 200 day moving average price is $40.02. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, beating 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 company had revenue of $768.18 million during the quarter, compared to analysts’ expectations of $735.69 million. During the same period last year, the business earned $0.49 earnings per share. Oceaneering International’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Oceaneering International, Inc. will post 2.1 earnings per share for the current 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.