Oceaneering International, Inc. $OII Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its position in shares of Oceaneering International, Inc. (NYSE:OII) by 77.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,669 shares of the oil and gas company’s stock after selling 29,244 shares during the quarter. Hsbc Holdings PLC’s holdings in Oceaneering International were worth $311,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OII. Vanguard Group Inc. raised its stake in shares of Oceaneering International by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock worth $297,279,000 after purchasing an additional 187,707 shares during the last quarter. State Street Corp boosted its position in Oceaneering International by 4.9% in the fourth quarter. State Street Corp now owns 4,647,252 shares of the oil and gas company’s stock valued at $111,673,000 after buying an additional 215,366 shares during the last quarter. Morgan Stanley Institutional Investment Advisors LLC purchased a new stake in Oceaneering International in the fourth quarter valued at approximately $94,847,000. Dimensional Fund Advisors LP increased its holdings in Oceaneering International by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,477,068 shares of the oil and gas company’s stock worth $83,556,000 after buying an additional 191,117 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Oceaneering International by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,304,738 shares of the oil and gas company’s stock worth $55,396,000 after buying an additional 51,871 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Roderick A. Larson sold 5,000 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the transaction, the chief executive officer owned 397,279 shares of the company’s stock, valued at approximately $15,203,867.33. This represents a 1.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher J. Dyer sold 1,200 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the transaction, the senior vice president owned 14,702 shares in the company, valued at $700,550.30. This represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,901 shares of company stock worth $985,554 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on OII. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. TD Cowen increased their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Citigroup increased their price objective on shares of Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Weiss Ratings raised shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Finally, Barclays boosted their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Oceaneering International currently has a consensus rating of “Hold” and an average price target of $41.00.

Oceaneering International Trading Down 0.0%

Shares of Oceaneering International stock opened at $48.77 on Monday. The firm has a 50-day simple moving average of $40.83 and a two-hundred day simple moving average of $36.85. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. Oceaneering International, Inc. has a fifty-two week low of $20.79 and a fifty-two week high of $53.98. The company has a market cap of $4.85 billion, a P/E ratio of 14.01 and a beta of 1.15.

About Oceaneering International

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.