Van ECK Associates Corp Has $32.94 Million Stake in Oceaneering International, Inc. $OII

Van ECK Associates Corp raised its stake in Oceaneering International, Inc. (NYSE:OII) by 6.8% in the third quarter, Holdings Channel reports. The fund owned 1,329,295 shares of the oil and gas company’s stock after purchasing an additional 85,159 shares during the quarter. Van ECK Associates Corp’s holdings in Oceaneering International were worth $32,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in OII. SummerHaven Investment Management LLC bought a new position in Oceaneering International in the 3rd quarter valued at approximately $967,000. Essex Investment Management Co. LLC grew its stake in shares of Oceaneering International by 58.7% in the third quarter. Essex Investment Management Co. LLC now owns 159,261 shares of the oil and gas company’s stock worth $3,946,000 after purchasing an additional 58,925 shares during the last quarter. CenterBook Partners LP acquired a new position in Oceaneering International during the 3rd quarter worth about $409,000. SG Americas Securities LLC lifted its holdings in Oceaneering International by 1,377.0% during the 3rd quarter. SG Americas Securities LLC now owns 156,547 shares of the oil and gas company’s stock worth $3,879,000 after buying an additional 145,948 shares during the period. Finally, Greenhouse Funds LLLP increased its stake in shares of Oceaneering International by 9.9% in the second quarter. Greenhouse Funds LLLP now owns 2,491,803 shares of the oil and gas company’s stock valued at $51,630,000 after buying an additional 223,724 shares during the period. 93.93% of the stock is owned by institutional investors.

Insider Transactions at Oceaneering International

In other news, SVP Holly Kriendler sold 5,798 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $37.31, for a total value of $216,323.38. Following the completion of the sale, the senior vice president directly owned 24,702 shares in the company, valued at $921,631.62. This trade represents a 19.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Benjamin Laura sold 5,106 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $36.88, for a total value of $188,309.28. Following the transaction, the chief operating officer directly owned 40,805 shares in the company, valued at approximately $1,504,888.40. This trade represents a 11.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 140,844 shares of company stock valued at $4,972,594. 2.10% of the stock is owned by insiders.

Oceaneering International Price Performance

Shares of OII opened at $35.33 on Thursday. The firm has a market cap of $3.51 billion, a PE ratio of 10.09 and a beta of 1.18. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $39.00. The business’s 50 day moving average price is $31.29 and its two-hundred day moving average price is $26.71. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.72 and a current ratio of 1.99.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The company had revenue of $668.57 million during the quarter, compared to analyst estimates of $678.16 million. During the same quarter in the previous year, the business posted $0.37 EPS. Oceaneering International’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on OII. Barclays lifted their price objective on Oceaneering International from $23.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Citigroup boosted their price target on shares of Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday. Zacks Research cut shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, TD Cowen boosted their target price on shares of Oceaneering International from $28.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $33.67.

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.