Thrivent Financial for Lutherans Reduces Position in Oceaneering International, Inc. (NYSE:OII)

Thrivent Financial for Lutherans reduced its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,692 shares of the oil and gas company’s stock after selling 4,476 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Oceaneering International worth $1,982,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Congress Asset Management Co. acquired a new stake in Oceaneering International during the 3rd quarter valued at approximately $38,819,000. Earnest Partners LLC lifted its position in Oceaneering International by 21.0% during the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock valued at $150,601,000 after purchasing an additional 1,105,263 shares during the period. Victory Capital Management Inc. boosted its holdings in Oceaneering International by 101.6% in the second quarter. Victory Capital Management Inc. now owns 550,077 shares of the oil and gas company’s stock valued at $13,015,000 after purchasing an additional 277,247 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Oceaneering International during the 3rd quarter worth about $6,106,000. Finally, American Century Companies Inc. raised its stake in shares of Oceaneering International by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 2,022,378 shares of the oil and gas company’s stock valued at $47,849,000 after buying an additional 239,701 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Performance

NYSE:OII opened at $29.79 on Friday. The company’s 50-day moving average is $26.23 and its two-hundred day moving average is $25.16. Oceaneering International, Inc. has a 1-year low of $18.67 and a 1-year high of $30.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 22.57 and a beta of 2.35.

Oceaneering International (NYSE:OII) last issued 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). The company had revenue of $679.81 million during the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. Analysts forecast that Oceaneering International, Inc. will post 1.39 EPS for the current year.

Insider Buying and Selling

In related 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 value of $75,702.00. Following the transaction, the director now owns 28,229 shares of the company’s stock, valued at $647,573.26. This represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OII. Barclays decreased their target price on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Thursday, October 31st. Benchmark reissued a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a research note on Friday, October 25th.

About Oceaneering International

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.