Gamco Investors INC. ET AL Sells 44,000 Shares of Oceaneering International, Inc. $OII

Gamco Investors INC. ET AL cut its stake in Oceaneering International, Inc. (NYSE:OII) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306,440 shares of the oil and gas company’s stock after selling 44,000 shares during the quarter. Gamco Investors INC. ET AL owned about 0.31% of Oceaneering International worth $7,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brown Advisory Inc. raised its stake in shares of Oceaneering International by 12.2% in the second quarter. Brown Advisory Inc. now owns 7,345,637 shares of the oil and gas company’s stock valued at $152,202,000 after acquiring an additional 799,718 shares during the period. American Century Companies Inc. boosted its stake in shares of Oceaneering International by 8.1% during the 3rd quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company’s stock worth $90,270,000 after purchasing an additional 272,667 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Oceaneering International by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,285,951 shares of the oil and gas company’s stock worth $81,429,000 after purchasing an additional 98,333 shares during the period. Greenhouse Funds LLLP grew its holdings in Oceaneering International by 9.9% during the 2nd quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock valued at $51,630,000 after purchasing an additional 223,724 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in Oceaneering International by 916.6% during the 2nd 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 purchasing an additional 1,227,950 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Price Performance

Oceaneering International stock opened at $34.18 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 9.77 and a beta of 1.18. The firm has a 50-day moving average of $30.61 and a two-hundred day moving average of $26.48. Oceaneering International, Inc. has a 1 year low of $15.46 and a 1 year high of $39.00.

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 analysts’ consensus estimates of $0.44 by $0.01. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The business had revenue of $668.57 million for the quarter, compared to analyst estimates of $678.16 million. During the same period last year, the company posted $0.37 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Holly Kriendler sold 19,007 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $37.73, for a total transaction of $717,134.11. Following the transaction, the senior vice president owned 30,500 shares of the company’s stock, valued at approximately $1,150,765. This represents a 38.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Benjamin Laura sold 33,176 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.51, for a total value of $1,244,431.76. Following the transaction, the chief operating officer owned 45,911 shares in the company, valued at approximately $1,722,121.61. This represents a 41.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 140,844 shares of company stock valued at $4,972,594 over the last 90 days. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research downgraded shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Weiss Ratings raised Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Barclays boosted their price objective on Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Finally, TD Cowen upped their price objective on Oceaneering International from $28.00 to $34.00 and gave the company 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 company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.33.

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.