Sigma Planning Corp Makes New Investment in Oceaneering International, Inc. $OII

Sigma Planning Corp purchased a new position in shares of Oceaneering International, Inc. (NYSE:OII) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,376 shares of the oil and gas company’s stock, valued at approximately $461,000.

Several other institutional investors and hedge funds have also recently modified their holdings of OII. BlackRock Inc. purchased a new stake in shares of Oceaneering International in the second quarter valued at about $664,659,000. Morgan Stanley Institutional Investment Advisors LLC acquired a new position in Oceaneering International in the 4th quarter valued at about $94,847,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Oceaneering International in the 2nd quarter valued at approximately $92,100,000. Reinhart Partners LLC. purchased a new stake in shares of Oceaneering International during the 2nd quarter valued at approximately $66,795,000. Finally, Balyasny Asset Management L.P. lifted its holdings in Oceaneering International by 916.6% in the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock valued at $28,219,000 after acquiring an additional 1,227,950 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Stock Performance

NYSE OII opened at $51.65 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The company has a market cap of $5.14 billion, a P/E ratio of 14.84 and a beta of 1.17. The stock has a 50-day moving average of $46.83 and a two-hundred day moving average of $40.28. Oceaneering International, Inc. has a 1-year low of $22.02 and a 1-year high of $54.25.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.17. The firm had revenue of $768.18 million for the quarter, compared to the consensus estimate of $735.69 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. As a group, analysts anticipate that Oceaneering International, Inc. will post 2.1 EPS for the current year.

Insider Buying and Selling

In other news, Director Paul B. Murphy, Jr. sold 10,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $48.37, for a total value of $483,700.00. Following the sale, the director directly owned 68,916 shares in the company, valued at approximately $3,333,466.92. This trade represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director M Kevin Mcevoy sold 3,000 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.92, for a total value of $143,760.00. Following the transaction, the director directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 26,901 shares of company stock worth $1,277,904 over the last ninety days. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Barclays boosted their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, 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 report on Tuesday, August 11th. 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, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

Oceaneering International Company 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.