AlphaQuest LLC Acquires 19,009 Shares of Oceaneering International, Inc. $OII

AlphaQuest LLC increased its holdings in Oceaneering International, Inc. (NYSE:OII) by 29.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,475 shares of the oil and gas company’s stock after purchasing an additional 19,009 shares during the period. AlphaQuest LLC’s holdings in Oceaneering International were worth $1,750,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bleakley Financial Group LLC lifted its position in Oceaneering International by 54.3% during the 2nd quarter. Bleakley Financial Group LLC now owns 15,947 shares of the oil and gas company’s stock worth $330,000 after acquiring an additional 5,614 shares during the last quarter. Boston Trust Walden Corp acquired a new position in Oceaneering International during the 2nd quarter worth $10,901,000. CWM LLC lifted its position in Oceaneering International by 276.4% during the 2nd quarter. CWM LLC now owns 13,680 shares of the oil and gas company’s stock worth $283,000 after acquiring an additional 10,046 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Oceaneering International by 12.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,265 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 1,589 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in Oceaneering International by 10.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 141,837 shares of the oil and gas company’s stock worth $2,939,000 after acquiring an additional 12,982 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Insider Activity at Oceaneering International

In other news, CFO Alan R. Curtis sold 14,840 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total transaction of $361,502.40. Following the sale, the chief financial officer directly owned 155,259 shares of the company’s stock, valued at $3,782,109.24. This represents a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Oceaneering International in a research note on Wednesday, October 8th. Barclays increased their target price on shares of Oceaneering International from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Saturday. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.67.

Oceaneering International Stock Performance

NYSE OII opened at $23.67 on Friday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 10.33 and a beta of 1.50. The company has a 50 day moving average of $24.02 and a 200-day moving average of $21.46. The company has a current ratio of 1.97, a quick ratio of 1.67 and a debt-to-equity ratio of 0.53. Oceaneering International, Inc. has a 1-year low of $15.46 and a 1-year high of $30.98.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, October 22nd. The oil and gas company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.13. Oceaneering International had a net margin of 8.21% and a return on equity of 22.94%. The company had revenue of $742.90 million during the quarter, compared to analyst estimates of $709.48 million. During the same quarter last year, the business posted $0.36 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Oceaneering International Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.