Victory Capital Management Inc. Lowers Stock Holdings in Oceaneering International, Inc. (NYSE:OII)

Victory Capital Management Inc. decreased its position in shares of Oceaneering International, Inc. (NYSE:OII) by 14.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 471,931 shares of the oil and gas company’s stock after selling 78,146 shares during the quarter. Victory Capital Management Inc. owned approximately 0.47% of Oceaneering International worth $11,737,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Isthmus Partners LLC lifted its stake in Oceaneering International by 0.9% in the 2nd quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 968 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Oceaneering International in the 2nd quarter worth $38,000. Farther Finance Advisors LLC lifted its stake in Oceaneering International by 3,594.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,905 shares in the last quarter. EntryPoint Capital LLC lifted its stake in Oceaneering International by 105.2% in the 1st quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 1,124 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Oceaneering International by 351.9% in the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after buying an additional 2,034 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insider Transactions at Oceaneering International

In other news, Director Karen H. Beachy sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 owns 28,229 shares of the company’s stock, valued at approximately $647,573.26. This represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Oceaneering International Stock Performance

Shares of NYSE:OII opened at $27.98 on Thursday. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 21.20 and a beta of 2.35. Oceaneering International, Inc. has a 12 month low of $18.67 and a 12 month high of $30.45. The firm’s 50-day moving average is $25.69 and its 200 day moving average is $24.95. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68.

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 (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The company had revenue of $679.81 million during the quarter, compared to analysts’ expectations of $693.69 million. During the same period last year, the firm earned $0.38 earnings per share. Oceaneering International’s quarterly revenue was up 7.0% on a year-over-year basis. Research analysts predict that Oceaneering International, Inc. will post 1.39 EPS for the current year.

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.