Oceaneering International, Inc. $OII Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in Oceaneering International, Inc. (NYSE:OII) by 46.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 19,512 shares of the oil and gas company’s stock after selling 16,991 shares during the period. State of Alaska Department of Revenue’s holdings in Oceaneering International were worth $850,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. EP Wealth Advisors LLC purchased a new position in Oceaneering International during the second quarter worth $855,000. Great Lakes Advisors LLC bought a new stake in shares of Oceaneering International in the 2nd quarter worth about $445,000. Bank of America Corp DE purchased a new position in shares of Oceaneering International during the 2nd quarter worth about $14,783,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Oceaneering International during the second quarter valued at approximately $2,889,000. Finally, Fifth Third Bancorp increased its stake in Oceaneering International by 6,782.5% in the first quarter. Fifth Third Bancorp now owns 29,526 shares of the oil and gas company’s stock worth $1,047,000 after purchasing an additional 29,097 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Performance

Shares of OII opened at $43.91 on Thursday. 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 $4.37 billion, a PE ratio of 12.62 and a beta of 1.25. Oceaneering International, Inc. has a 12 month low of $22.13 and a 12 month high of $54.25. The stock has a fifty day moving average price of $47.89 and a 200-day moving average price of $42.99.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%. The business had revenue of $784.55 million for the quarter, compared to analysts’ expectations of $775.93 million. During the same quarter last year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that Oceaneering International, Inc. will post 2.10 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OII has been the subject of several research analyst reports. Citigroup lifted their price target on shares of Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Barclays raised their price objective on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings cut Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Insiders Place Their Bets

In other news, CEO Roderick Larson sold 6,000 shares of Oceaneering International stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $44.16, for a total transaction of $264,960.00. Following the completion of the sale, the chief executive officer directly owned 391,279 shares in the company, valued at approximately $17,278,880.64. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher Dyer sold 1,200 shares of the business’s stock in a transaction 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 sale, the senior vice president directly owned 14,702 shares in the company, valued at $700,550.30. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 32,901 shares of company stock valued at $1,542,864. Corporate insiders own 1.30% of the company’s stock.

Oceaneering International Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.