Oceaneering International (NYSE:OII) Stock: Insider Roderick Larson Sells 6,000 Shares

Oceaneering International, Inc. (NYSE:OII) CEO Roderick Larson sold 6,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $44.16, for a total value of $264,960.00. Following the transaction, the chief executive officer directly owned 385,279 shares of the company’s stock, valued at $17,013,920.64. The trade was a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Oceaneering International Price Performance

Shares of NYSE:OII traded down $0.04 during trading on Tuesday, reaching $38.20. The stock had a trading volume of 1,070,549 shares, compared to its average volume of 1,114,222. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.97 and a current ratio of 2.20. The business has a fifty day moving average price of $45.88 and a 200-day moving average price of $40.29. The stock has a market cap of $3.80 billion, a PE ratio of 11.61 and a beta of 1.30. Oceaneering International, Inc. has a 1-year low of $22.13 and a 1-year high of $54.25.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The firm had revenue of $784.55 million for the quarter, compared to analysts’ expectations of $775.93 million. Oceaneering International had a return on equity of 16.87% and a net margin of 11.37%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, equities analysts forecast that Oceaneering International, Inc. will post 2.10 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays reduced their target price on shares of Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, October 26th. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Citigroup decreased their target price on shares of Oceaneering International from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. Finally, Weiss Ratings cut Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC purchased a new stake in shares of Oceaneering International in the third quarter valued at about $26,000. Integrated Wealth Concepts LLC acquired a new position in Oceaneering International in the 2nd quarter valued at about $35,000. Parallel Advisors LLC boosted its holdings in Oceaneering International by 53.2% in the 3rd quarter. Parallel Advisors LLC now owns 835 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 290 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Oceaneering International in the 2nd quarter valued at approximately $42,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Oceaneering International in the 1st quarter valued at approximately $53,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

About Oceaneering International

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.