Ranger Investment Management L.P. Takes Position in Oceaneering International, Inc. $OII

Ranger Investment Management L.P. bought a new position in shares of Oceaneering International, Inc. (NYSE:OII) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 777,643 shares of the oil and gas company’s stock, valued at approximately $31,510,000. Oceaneering International makes up approximately 2.0% of Ranger Investment Management L.P.’s portfolio, making the stock its 13th largest position. Ranger Investment Management L.P. owned 0.78% of Oceaneering International at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Oceaneering International in the second quarter valued at approximately $92,100,000. Globeflex Capital L P purchased a new position in Oceaneering International in the second quarter valued at approximately $295,000. Compass Financial Management LLC acquired a new stake in Oceaneering International during the second quarter worth approximately $251,000. Commerce Bank acquired a new stake in Oceaneering International during the second quarter worth approximately $347,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of Oceaneering International during the 2nd quarter worth approximately $694,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

OII has been the subject of several research analyst reports. Citigroup upped their target price on shares of Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings cut shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Barclays upped their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Finally, TD Cowen raised their price objective on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Oceaneering International has an average rating of “Hold” and a consensus target price of $45.00.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, SVP Christopher J. Dyer sold 1,200 shares of Oceaneering International stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total value of $57,180.00. Following the transaction, the senior vice president directly owned 14,702 shares in the company, valued at approximately $700,550.30. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director M Kevin Mcevoy sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.92, for a total transaction of $143,760.00. Following the completion of the sale, the director directly owned 134,133 shares of the company’s stock, valued at $6,427,653.36. The trade was a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,901 shares of company stock worth $1,277,904 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Oceaneering International Trading Up 0.0%

OII opened at $53.01 on Monday. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. Oceaneering International, Inc. has a 52 week low of $22.02 and a 52 week high of $54.25. The business’s 50 day moving average is $44.53 and its two-hundred day moving average is $39.23. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 15.23 and a beta of 1.15.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.17. The business had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. On average, research analysts predict that Oceaneering International, Inc. will post 2.1 EPS for the current year.

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.