Edgestream Partners L.P. Raises Stake in Oceaneering International, Inc. $OII

Edgestream Partners L.P. increased its holdings in Oceaneering International, Inc. (NYSE:OII) by 306.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,544 shares of the oil and gas company’s stock after buying an additional 87,851 shares during the quarter. Edgestream Partners L.P. owned about 0.12% of Oceaneering International worth $4,134,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new stake in Oceaneering International during the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 1,111 shares during the last quarter. Quarry LP acquired a new stake in shares of Oceaneering International in the third quarter worth $30,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Oceaneering International in the first quarter worth $53,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Oceaneering International by 248.8% during the fourth quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 1,627 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Price Performance

Shares of NYSE OII opened at $48.77 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 14.01 and a beta of 1.15. The firm’s 50 day simple moving average is $40.83 and its 200-day simple moving average is $36.78. Oceaneering International, Inc. has a 12 month low of $20.79 and a 12 month high of $53.98.

Insider Activity

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the transaction, the chief executive officer owned 397,279 shares of the company’s stock, valued at approximately $15,203,867.33. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher J. Dyer sold 1,200 shares of Oceaneering International stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the completion of the transaction, the senior vice president directly owned 14,702 shares of the company’s stock, valued at $700,550.30. The trade was a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 21,901 shares of company stock valued at $985,554. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OII shares. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Citigroup upped their price target on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. TD Cowen increased their price target on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Barclays lifted their price objective on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.00.

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.