JPMorgan Chase & Co. Has $18.93 Million Stake in Oceaneering International, Inc. $OII

JPMorgan Chase & Co. raised its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 94.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 763,907 shares of the oil and gas company’s stock after purchasing an additional 371,586 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.77% of Oceaneering International worth $18,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC acquired a new position in shares of Oceaneering International in the third quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Oceaneering International during the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its stake in Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 1,111 shares during the period. SBI Securities Co. Ltd. grew its holdings in Oceaneering International by 255.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Oceaneering International by 47.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 629 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Oceaneering International Price Performance

OII stock opened at $35.87 on Tuesday. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 10.25 and a beta of 1.18. 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 company has a 50 day simple moving average of $29.77 and a 200 day simple moving average of $26.14. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $668.57 million for the quarter, compared to analyst estimates of $678.16 million. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. Research analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, SVP Earl Childress sold 22,518 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $842,398.38. Following the completion of the transaction, the senior vice president owned 35,577 shares of the company’s stock, valued at $1,330,935.57. This represents a 38.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher J. Dyer sold 6,000 shares of Oceaneering International stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $38.08, for a total value of $228,480.00. Following the sale, the senior vice president directly owned 15,902 shares in the company, valued at $605,548.16. The trade was a 27.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 140,844 shares of company stock worth $4,972,594 over the last three months. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

OII has been the subject of a number of research reports. TD Cowen lifted their target price on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Barclays boosted their price target on Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Oceaneering International presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

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.