Capstone Investment Advisors LLC Takes $1.02 Million Position in Oceaneering International, Inc. $OII

Capstone Investment Advisors LLC acquired a new stake in Oceaneering International, Inc. (NYSE:OII) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,094 shares of the oil and gas company’s stock, valued at approximately $1,017,000.

Other large investors have also recently added to or reduced their stakes in the company. Corient Private Wealth LP acquired a new stake in Oceaneering International during the 2nd quarter worth approximately $422,000. Bank of America Corp DE acquired a new position in shares of Oceaneering International in the second quarter worth $14,783,000. Jupiter Topco LLC purchased a new stake in shares of Oceaneering International during the second quarter worth $6,333,000. EFG International AG acquired a new stake in shares of Oceaneering International in the second quarter valued at $3,726,000. Finally, PDT Partners LLC acquired a new stake in shares of Oceaneering International in the second quarter valued at $494,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 value of $57,180.00. Following the completion of the transaction, the senior vice president directly owned 14,702 shares of the company’s stock, valued at $700,550.30. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Earl Childress sold 12,701 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the completion of the transaction, the senior vice president owned 22,876 shares in the company, valued at $1,068,537.96. This represents a 35.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 26,901 shares of company stock worth $1,277,904. Insiders own 1.30% of the company’s stock.

Oceaneering International Stock Performance

Shares of OII stock opened at $51.09 on Friday. The company has a market cap of $5.09 billion, a P/E ratio of 14.68 and a beta of 1.15. The firm has a fifty day moving average price of $45.61 and a 200 day moving average price of $39.77. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. Oceaneering International, Inc. has a 12 month low of $22.02 and a 12 month high of $54.25.

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

Analyst Ratings Changes

Several research analysts recently commented on OII shares. Barclays boosted their target price on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Weiss Ratings lowered Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. TD Cowen lifted their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Citigroup upped their target price on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Oceaneering International presently has a consensus rating of “Hold” and an average price target of $45.00.

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.