Evolve Private Wealth LLC Buys Shares of 17,116 Oceaneering International, Inc. $OII

Evolve Private Wealth LLC purchased a new stake in shares of Oceaneering International, Inc. (NYSE:OII) in the 2nd quarter, HoldingsChannel reports. The fund purchased 17,116 shares of the oil and gas company’s stock, valued at approximately $694,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OII. EP Wealth Advisors LLC purchased a new position in Oceaneering International in the second quarter worth $855,000. Callan Family Office LLC acquired a new position in Oceaneering International during the 2nd quarter valued at about $453,000. Allworth Financial LP purchased a new stake in Oceaneering International in the second quarter valued at about $42,000. Vise Technologies Inc. acquired a new stake in Oceaneering International in the second quarter worth about $658,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of Oceaneering International during the second quarter valued at about $445,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insider Buying and Selling

In related news, Director M Kevin Mcevoy sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.92, for a total value of $143,760.00. Following the completion of the sale, the director 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Earl Childress sold 12,701 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the completion of the sale, the senior vice president directly owned 22,876 shares of the company’s stock, valued at approximately $1,068,537.96. This trade represents a 35.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,901 shares of company stock valued at $1,277,904 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on OII. Barclays upped their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup boosted their price target on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. TD Cowen raised their price target 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. Finally, Weiss Ratings downgraded shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Oceaneering International Price Performance

NYSE:OII opened at $50.48 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. Oceaneering International, Inc. has a 52 week low of $22.02 and a 52 week high of $54.25. The stock’s 50-day moving average price is $44.78 and its 200-day moving average price is $39.36. The stock has a market capitalization of $5.02 billion, a PE ratio of 14.50 and a beta of 1.15.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The firm had revenue of $768.18 million for the quarter, compared to analysts’ expectations of $735.69 million. During the same quarter last year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that Oceaneering International, Inc. will post 2.1 EPS for the current fiscal year.

Oceaneering International Company 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.