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

Oceaneering International, Inc. (NYSE:OII) CEO Roderick Larson sold 6,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was 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 approximately $17,013,920.64. The trade was a 1.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Oceaneering International Stock Down 0.1%

OII stock opened at $38.20 on Wednesday. The firm has a 50-day moving average price of $45.64 and a 200-day moving average price of $40.34. Oceaneering International, Inc. has a 12 month low of $22.13 and a 12 month high of $54.25. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $3.80 billion, a P/E ratio of 11.61 and a beta of 1.30.

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

Wall Street Analysts Forecast Growth

OII has been the topic of a number of research reports. Barclays decreased their target price on shares of Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, October 26th. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Citigroup reduced their price objective on Oceaneering International from $52.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, October 29th. Weiss Ratings cut Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Finally, Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Institutional Investors Weigh In On Oceaneering International

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Oceaneering International during the second quarter worth about $664,659,000. Morgan Stanley Institutional Investment Advisors LLC acquired a new position in shares of Oceaneering International in the second quarter worth approximately $124,235,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Oceaneering International in the second quarter valued at approximately $92,100,000. Reinhart Partners LLC. bought a new stake in Oceaneering International in the second quarter valued at approximately $66,795,000. Finally, Bank of New York Mellon Corp bought a new stake in Oceaneering International in the second quarter valued at approximately $45,658,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.