South Dakota Investment Council Cuts Holdings in Oceaneering International, Inc. $OII

South Dakota Investment Council decreased its holdings in Oceaneering International, Inc. (NYSE:OII) by 46.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,100 shares of the oil and gas company’s stock after selling 16,800 shares during the period. South Dakota Investment Council’s holdings in Oceaneering International were worth $677,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Oceaneering International by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after purchasing an additional 187,707 shares in the last quarter. State Street Corp increased its holdings in Oceaneering International by 4.9% in the 4th quarter. State Street Corp now owns 4,647,252 shares of the oil and gas company’s stock worth $111,673,000 after buying an additional 215,366 shares in the last quarter. Morgan Stanley Institutional Investment Advisors LLC bought a new stake in Oceaneering International in the 4th quarter worth about $94,847,000. Dimensional Fund Advisors LP raised its position in Oceaneering International by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,477,068 shares of the oil and gas company’s stock worth $83,556,000 after buying an additional 191,117 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Oceaneering International by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 2,304,738 shares of the oil and gas company’s stock valued at $55,396,000 after acquiring an additional 51,871 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $48.77 on Friday. Oceaneering International, Inc. has a 12-month low of $20.79 and a 12-month high of $53.98. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.01 and a beta of 1.15. 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 50 day moving average of $40.83 and a 200 day moving average of $36.78.

Insider Buying and Selling

In other Oceaneering International news, Director M Kevin Mcevoy sold 3,000 shares of Oceaneering International stock in a transaction that occurred on 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 of the company’s stock, valued at $6,427,653.36. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher J. Dyer sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was 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 owned 14,702 shares of the company’s stock, valued at approximately $700,550.30. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,901 shares of company stock worth $985,554 over the last ninety days. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OII has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Weiss Ratings upgraded shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. TD Cowen lifted their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, Barclays increased their price target on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Oceaneering International has an average rating of “Hold” and an average target price of $41.00.

Oceaneering International Profile

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.