Federated Hermes Inc. Has $1.13 Million Holdings in Oceaneering International, Inc. (NYSE:OII)

Federated Hermes Inc. trimmed its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 73.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,541 shares of the oil and gas company’s stock after selling 134,889 shares during the quarter. Federated Hermes Inc.’s holdings in Oceaneering International were worth $1,125,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hennessy Advisors Inc. boosted its stake in shares of Oceaneering International by 541.1% during the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after acquiring an additional 829,000 shares in the last quarter. Norges Bank acquired a new position in Oceaneering International during the fourth quarter valued at approximately $15,161,000. Earnest Partners LLC raised its position in shares of Oceaneering International by 9.3% in the first quarter. Earnest Partners LLC now owns 5,259,951 shares of the oil and gas company’s stock valued at $123,083,000 after purchasing an additional 445,419 shares during the period. Hawk Ridge Capital Management LP acquired a new stake in shares of Oceaneering International in the fourth quarter worth $8,884,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Oceaneering International by 46.6% during 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 buying an additional 398,209 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on OII. Citigroup boosted their target price on shares of Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Barclays increased their target price on Oceaneering International from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Finally, Benchmark reaffirmed a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a research report on Thursday, July 25th.

Oceaneering International Price Performance

Shares of OII stock opened at $26.02 on Friday. The company has a market capitalization of $2.64 billion, a P/E ratio of 24.55 and a beta of 2.35. The company has a current ratio of 1.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.73. Oceaneering International, Inc. has a 12 month low of $18.67 and a 12 month high of $30.45. The stock has a 50 day moving average of $26.13 and a two-hundred day moving average of $24.07.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Oceaneering International had a return on equity of 15.78% and a net margin of 4.87%. The business had revenue of $668.81 million for the quarter, compared to analyst estimates of $656.87 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts expect that Oceaneering International, Inc. will post 1.42 EPS for the current year.

Insider Activity at Oceaneering International

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the transaction, the director now owns 28,229 shares in the company, valued at $647,573.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the transaction, the director now directly owns 28,229 shares in the company, valued at $647,573.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Earl Childress sold 10,000 shares of Oceaneering International stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the transaction, the senior vice president now directly owns 57,351 shares of the company’s stock, valued at $1,473,920.70. The disclosure for this sale can be found here. Insiders have sold a total of 22,975 shares of company stock valued at $585,413 over the last quarter. 2.30% of the stock is owned by company insiders.

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.