Aristotle Capital Boston LLC Sells 26,776 Shares of Oceaneering International, Inc. $OII

Aristotle Capital Boston LLC lowered its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 3.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 843,793 shares of the oil and gas company’s stock after selling 26,776 shares during the quarter. Aristotle Capital Boston LLC’s holdings in Oceaneering International were worth $20,909,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OII. Algert Global LLC raised its holdings in Oceaneering International by 74.2% in the 3rd quarter. Algert Global LLC now owns 649,747 shares of the oil and gas company’s stock valued at $16,101,000 after acquiring an additional 276,818 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Oceaneering International by 210.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 102,161 shares of the oil and gas company’s stock worth $2,532,000 after purchasing an additional 69,215 shares in the last quarter. Creative Planning grew its holdings in shares of Oceaneering International by 81.3% during the 3rd quarter. Creative Planning now owns 29,473 shares of the oil and gas company’s stock worth $730,000 after purchasing an additional 13,218 shares in the last quarter. SummitTX Capital L.P. bought a new position in shares of Oceaneering International in the third quarter worth $5,620,000. Finally, Horizon Investments LLC bought a new position in shares of Oceaneering International in the third quarter worth $720,000. Institutional investors own 93.93% of the company’s stock.

Insider Activity at Oceaneering International

In related news, SVP Christopher J. Dyer sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $38.08, for a total transaction of $228,480.00. Following the completion of the transaction, the senior vice president directly owned 15,902 shares in the company, valued at $605,548.16. This represents a 27.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Holly Kriendler sold 5,798 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $37.31, for a total transaction of $216,323.38. Following the completion of the transaction, the senior vice president directly owned 24,702 shares of the company’s stock, valued at approximately $921,631.62. The trade was a 19.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 140,844 shares of company stock worth $4,972,594 in the last ninety days. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OII. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Barclays raised their target price on shares of Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Citigroup boosted their target price on shares of Oceaneering International from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Weiss Ratings raised shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, TD Cowen increased their price target on shares of Oceaneering International from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Oceaneering International has a consensus rating of “Hold” and an average target price of $33.67.

Oceaneering International Stock Performance

NYSE:OII opened at $33.30 on Friday. Oceaneering International, Inc. has a twelve month low of $15.46 and a twelve month high of $39.00. The company has a quick ratio of 1.72, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The stock’s 50-day simple moving average is $31.69 and its 200 day simple moving average is $26.86. The firm has a market capitalization of $3.31 billion, a PE ratio of 9.51 and a beta of 1.18.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $668.57 million during the quarter, compared to the consensus estimate of $678.16 million. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS 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.