California State Teachers Retirement System Boosts Stake in Oceaneering International, Inc. $OII

California State Teachers Retirement System increased its stake in Oceaneering International, Inc. (NYSE:OII) by 27.9% during the 1st quarter, Holdings Channel reports. The firm owned 119,621 shares of the oil and gas company’s stock after purchasing an additional 26,058 shares during the quarter. California State Teachers Retirement System’s holdings in Oceaneering International were worth $4,243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Oceaneering International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock valued at $1,312,000 after buying an additional 2,633 shares in the last quarter. Empowered Funds LLC increased its stake in Oceaneering International by 1.9% in the first quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock valued at $2,634,000 after acquiring an additional 2,310 shares during the last quarter. Strs Ohio bought a new position in Oceaneering International in the first quarter valued at $168,000. Norges Bank purchased a new stake in Oceaneering International during the second quarter valued at about $1,485,000. Finally, Invesco Ltd. lifted its stake in Oceaneering International by 8.0% during the second quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock worth $13,472,000 after purchasing an additional 48,382 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director M Kevin Mcevoy sold 3,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.92, for a total value of $143,760.00. Following the sale, the director directly owned 134,133 shares of the company’s stock, valued at approximately $6,427,653.36. This represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Roderick A. Larson sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the sale, the chief executive officer owned 397,279 shares of the company’s stock, valued at approximately $15,203,867.33. This represents a 1.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 21,901 shares of company stock worth $985,554. 1.30% of the stock is currently owned by corporate insiders.

Oceaneering International Stock Down 2.5%

Shares of NYSE:OII opened at $48.00 on Friday. The firm has a market capitalization of $4.78 billion, a P/E ratio of 13.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. The stock has a 50 day moving average price of $41.86 and a 200-day moving average price of $37.55. Oceaneering International, Inc. has a 52-week low of $21.03 and a 52-week high of $53.98.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OII shares. TD Cowen increased their price target on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup lifted their target price on shares of Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Barclays boosted their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. 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, the stock 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.