Oceaneering International, Inc. $OII Stock Holdings Lowered by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its stake in Oceaneering International, Inc. (NYSE:OII) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 243,386 shares of the oil and gas company’s stock after selling 23,700 shares during the period. Hennessy Advisors Inc.’s holdings in Oceaneering International were worth $10,619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new stake in Oceaneering International in the 3rd quarter valued at about $26,000. Integrated Wealth Concepts LLC purchased a new position in shares of Oceaneering International during the second quarter worth approximately $35,000. Allworth Financial LP purchased a new position in shares of Oceaneering International during the second quarter worth approximately $42,000. Public Employees Retirement System of Ohio bought a new stake in shares of Oceaneering International during the second quarter valued at approximately $54,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Oceaneering International during the first quarter valued at approximately $53,000. Institutional investors own 93.93% of the company’s stock.

Insider Buying and Selling

In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $48.37, for a total value of $483,700.00. Following the completion of the sale, the director directly owned 68,916 shares in the company, valued at $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 available at the SEC website. Also, CEO Roderick A. Larson sold 6,000 shares of Oceaneering International stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $44.16, for a total transaction of $264,960.00. Following the completion of the transaction, the chief executive officer directly owned 391,279 shares in the company, valued at $17,278,880.64. This represents a 1.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by insiders.

Oceaneering International Trading Up 0.1%

OII opened at $40.92 on Monday. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 12.44 and a beta of 1.30. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.40. Oceaneering International, Inc. has a 12 month low of $22.13 and a 12 month high of $54.25. The stock has a fifty day moving average price of $46.18 and a 200-day moving average price of $40.23.

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

Wall Street Analysts Forecast Growth

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

Oceaneering International Company Profile

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.