Insider Selling: Oceaneering International (NYSE:OII) CEO Sells $264,960.00 in Stock

Oceaneering International, Inc. (NYSE:OII) CEO Roderick Larson sold 6,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $44.16, for a total value of $264,960.00. Following the completion of the sale, the chief executive officer owned 385,279 shares in the company, valued at approximately $17,013,920.64. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Oceaneering International Stock Down 6.7%

OII stock opened at $33.96 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.20 and a quick ratio of 1.97. The stock has a market capitalization of $3.38 billion, a P/E ratio of 10.32 and a beta of 1.30. The business has a 50-day moving average of $45.06 and a 200-day moving average of $40.42. Oceaneering International, Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $54.25.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The firm had revenue of $784.55 million during the quarter, compared to analyst estimates of $775.93 million. Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. On average, sell-side analysts anticipate that Oceaneering International, Inc. will post 2.10 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OII. Fifth Third Bancorp raised its stake in Oceaneering International by 58.7% in the 3rd quarter. Fifth Third Bancorp now owns 48,002 shares of the oil and gas company’s stock valued at $2,094,000 after acquiring an additional 17,756 shares during the period. Maryland State Retirement & Pension System boosted its position in Oceaneering International by 52.1% during the third quarter. Maryland State Retirement & Pension System now owns 22,117 shares of the oil and gas company’s stock worth $965,000 after purchasing an additional 7,572 shares during the period. Illinois Municipal Retirement Fund boosted its position in Oceaneering International by 6.6% during the third quarter. Illinois Municipal Retirement Fund now owns 54,695 shares of the oil and gas company’s stock worth $2,386,000 after purchasing an additional 3,389 shares during the period. Lido Advisors LLC increased its holdings in shares of Oceaneering International by 12.5% in the third quarter. Lido Advisors LLC now owns 15,015 shares of the oil and gas company’s stock valued at $655,000 after purchasing an additional 1,663 shares during the last quarter. Finally, Leuthold Group LLC increased its holdings in shares of Oceaneering International by 8.7% in the third quarter. Leuthold Group LLC now owns 155,429 shares of the oil and gas company’s stock valued at $6,781,000 after purchasing an additional 12,493 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on OII. Weiss Ratings downgraded shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Barclays decreased their target price on shares of Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, October 26th. Finally, Citigroup lowered their price target on shares of Oceaneering International from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.