Insider Selling: Oceaneering International (NYSE:OII) Director Sells $483,700.00 in Stock

Oceaneering International, Inc. (NYSE:OII) Director Paul Murphy, Jr. sold 10,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $48.37, for a total transaction of $483,700.00. Following the sale, the director directly owned 68,916 shares in the company, valued at $3,333,466.92. This trade represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Oceaneering International Trading Up 0.3%

NYSE OII opened at $50.93 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. Oceaneering International, Inc. has a one year low of $21.78 and a one year high of $53.98. The company has a 50-day simple moving average of $42.63 and a 200-day simple moving average of $38.11. The firm has a market capitalization of $5.07 billion, a PE ratio of 14.64 and a beta of 1.15.

Institutional Investors Weigh In On Oceaneering International

A number of hedge funds have recently made changes to their positions in OII. BlackRock Inc. bought a new position in Oceaneering International in the 2nd quarter worth approximately $664,659,000. Morgan Stanley Institutional Investment Advisors LLC bought a new stake in Oceaneering International during the 4th quarter valued at $94,847,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Oceaneering International during the 2nd quarter worth $92,100,000. Reinhart Partners LLC. acquired a new position in Oceaneering International during the 2nd quarter worth $66,795,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of 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 purchasing an additional 1,227,950 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OII. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Citigroup boosted their price objective on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Cowen upped their price objective on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Barclays increased their target price on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Oceaneering International currently has a consensus rating of “Hold” and an average target price of $45.00.

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.