Roderick Larson Sells 5,000 Shares of Oceaneering International (NYSE:OII) Stock

Oceaneering International, Inc. (NYSE:OII) CEO Roderick Larson sold 5,000 shares of Oceaneering International stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the sale, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Oceaneering International Trading Up 1.1%

Shares of OII opened at $38.41 on Thursday. The business has a 50-day moving average of $36.58 and a 200 day moving average of $30.97. Oceaneering International, Inc. has a fifty-two week low of $18.45 and a fifty-two week high of $40.12. The firm has a market cap of $3.83 billion, a P/E ratio of 11.40 and a beta of 1.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. During the same period last year, the business posted $0.43 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts forecast that Oceaneering International, Inc. will post 1.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OII. Barclays lifted their price objective on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Zacks Research downgraded Oceaneering International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. TD Cowen raised their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Finally, Citigroup raised their target price on Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.67.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in Oceaneering International in the 3rd quarter worth about $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 worth $30,000 after purchasing an additional 1,111 shares during the period. Quarry LP bought a new position in Oceaneering International in the 3rd quarter worth about $30,000. SBI Securities Co. Ltd. boosted its position in shares of Oceaneering International by 255.1% during 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 acquiring an additional 1,000 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Oceaneering International by 47.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 629 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

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.