New York State Teachers Retirement System Sells 5,800 Shares of Oceaneering International, Inc. $OII

New York State Teachers Retirement System cut its stake in Oceaneering International, Inc. (NYSE:OII) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 166,252 shares of the oil and gas company’s stock after selling 5,800 shares during the quarter. New York State Teachers Retirement System owned about 0.17% of Oceaneering International worth $3,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Oceaneering International by 29.7% in the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 711 shares during the period. Central Pacific Bank Trust Division increased its holdings in shares of Oceaneering International by 9.1% in the 2nd quarter. Central Pacific Bank Trust Division now owns 10,070 shares of the oil and gas company’s stock valued at $209,000 after acquiring an additional 840 shares during the period. Foundry Partners LLC increased its holdings in shares of Oceaneering International by 8.5% in the 1st quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company’s stock valued at $304,000 after acquiring an additional 1,096 shares during the period. Inspire Investing LLC increased its holdings in shares of Oceaneering International by 7.2% in the 1st quarter. Inspire Investing LLC now owns 18,352 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 1,240 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Oceaneering International by 12.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the oil and gas company’s stock valued at $242,000 after acquiring an additional 1,256 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Stock Up 1.8%

Shares of OII stock opened at $23.54 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.00 and a quick ratio of 1.67. The stock’s fifty day moving average price is $23.88 and its 200 day moving average price is $21.32. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 11.89 and a beta of 1.50. 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 results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. The business had revenue of $698.16 million for the quarter, compared to the consensus estimate of $676.81 million. Oceaneering International had a return on equity of 22.09% and a net margin of 7.31%.The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. On average, research analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OII. Citigroup lifted their price target on Oceaneering International from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Oceaneering International in a research note on Wednesday, October 8th. Barclays boosted their target price on Oceaneering International from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.00.

Insiders Place Their Bets

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total transaction of $361,502.40. Following the sale, the chief financial officer owned 155,259 shares in the company, valued at approximately $3,782,109.24. The trade was a 8.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

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.