UBS Group AG Cuts Position in Oceaneering International, Inc. $OII

UBS Group AG cut its stake in Oceaneering International, Inc. (NYSE:OII) by 6.8% in the 4th quarter, Holdings Channel reports. The fund owned 458,211 shares of the oil and gas company’s stock after selling 33,425 shares during the quarter. UBS Group AG’s holdings in Oceaneering International were worth $11,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OII. Balyasny Asset Management L.P. grew its position in Oceaneering International by 916.6% in the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock worth $28,219,000 after acquiring an additional 1,227,950 shares in the last quarter. JPMorgan Chase & Co. grew its position in Oceaneering International by 94.7% in the third quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company’s stock worth $18,930,000 after acquiring an additional 371,586 shares in the last quarter. Tudor Investment Corp ET AL grew its position in Oceaneering International by 210.8% in the third quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock worth $12,190,000 after acquiring an additional 333,666 shares in the last quarter. Algert Global LLC grew its position in Oceaneering International by 74.2% in the third quarter. Algert Global LLC now owns 649,747 shares of the oil and gas company’s stock worth $16,101,000 after acquiring an additional 276,818 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Oceaneering International by 8.1% in the third quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company’s stock worth $90,270,000 after acquiring an additional 272,667 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Stock Down 2.4%

Shares of NYSE OII opened at $37.80 on Friday. The firm’s fifty day moving average is $36.35 and its 200 day moving average is $30.60. Oceaneering International, Inc. has a 52 week low of $18.45 and a 52 week high of $40.12. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 11.22 and a beta of 1.17.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results 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). The firm had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 EPS. On average, equities research analysts expect that Oceaneering International, Inc. will post 1.89 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on OII. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Zacks Research lowered shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Barclays upped their target price on shares of Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, TD Cowen upped their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Oceaneering International has an average rating of “Hold” and a consensus price target of $36.67.

Insider Activity

In other news, Director Karen H. Beachy sold 9,800 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total transaction of $366,618.00. Following the completion of the sale, the director directly owned 22,816 shares in the company, valued at approximately $853,546.56. This represents a 30.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Holly Kriendler sold 19,007 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $37.73, for a total value of $717,134.11. Following the completion of the sale, the senior vice president directly owned 30,500 shares in the company, valued at $1,150,765. The trade was a 38.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 111,689 shares of company stock valued at $4,204,360. 1.30% of the stock is owned by corporate insiders.

Oceaneering International 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.