Empowered Funds LLC Purchases 5,909 Shares of Oceaneering International, Inc. (NYSE:OII)

Empowered Funds LLC increased its position in shares of Oceaneering International, Inc. (NYSE:OII) by 5.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,709 shares of the oil and gas company’s stock after buying an additional 5,909 shares during the period. Empowered Funds LLC owned 0.12% of Oceaneering International worth $2,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of Oceaneering International by 46.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,253,175 shares of the oil and gas company’s stock worth $29,323,000 after acquiring an additional 398,209 shares in the last quarter. Earnest Partners LLC increased its holdings in Oceaneering International by 21.0% in the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after purchasing an additional 1,105,263 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Oceaneering International by 10.0% in the second quarter. Envestnet Asset Management Inc. now owns 266,885 shares of the oil and gas company’s stock valued at $6,314,000 after buying an additional 24,283 shares during the period. Rhumbline Advisers boosted its holdings in shares of Oceaneering International by 10.5% during the 2nd quarter. Rhumbline Advisers now owns 285,656 shares of the oil and gas company’s stock worth $6,759,000 after buying an additional 27,177 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Oceaneering International during the 2nd quarter worth approximately $515,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

OII has been the topic of several research analyst reports. Barclays cut their target price on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Thursday, October 31st. Benchmark restated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research note on Friday, October 25th.

Insider Activity at Oceaneering International

In other news, Director Karen H. Beachy sold 3,300 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total value of $75,702.00. Following the completion of the sale, the director now directly owns 28,229 shares of the company’s stock, valued at $647,573.26. This represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Oceaneering International Price Performance

Shares of OII opened at $27.47 on Wednesday. The business’s fifty day moving average is $25.58 and its 200 day moving average is $24.93. Oceaneering International, Inc. has a 12-month low of $18.67 and a 12-month high of $30.45. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The stock has a market cap of $2.78 billion, a P/E ratio of 20.81 and a beta of 2.35.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The business had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. Sell-side analysts anticipate that Oceaneering International, Inc. will post 1.39 earnings per share for the current fiscal year.

About Oceaneering International

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.