Inspire Investing LLC Lowers Stock Holdings in Oceaneering International, Inc. (NYSE:OII)

Inspire Investing LLC reduced its stake in Oceaneering International, Inc. (NYSE:OII) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,661 shares of the oil and gas company’s stock after selling 757 shares during the period. Inspire Investing LLC’s holdings in Oceaneering International were worth $394,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Hennessy Advisors Inc. boosted its holdings in shares of Oceaneering International by 541.1% in the fourth quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock valued at $20,901,000 after purchasing an additional 829,000 shares during the period. Norges Bank bought a new stake in Oceaneering International during the 4th quarter valued at $15,161,000. Earnest Partners LLC lifted its holdings in shares of Oceaneering International by 9.3% in the 1st quarter. Earnest Partners LLC now owns 5,259,951 shares of the oil and gas company’s stock worth $123,083,000 after buying an additional 445,419 shares during the period. Hawk Ridge Capital Management LP bought a new position in shares of Oceaneering International during the 4th quarter worth $8,884,000. Finally, Janus Henderson Group PLC grew its position 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 in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Oceaneering International

In other news, SVP Earl Childress sold 10,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International 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 directly owns 28,229 shares in the company, valued at approximately $647,573.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Earl Childress sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total transaction of $257,000.00. Following the sale, the senior vice president now directly owns 57,351 shares in the company, valued at approximately $1,473,920.70. The disclosure for this sale can be found here. Insiders sold a total of 22,975 shares of company stock worth $585,413 over the last three months. Corporate insiders own 2.30% of the company’s stock.

Oceaneering International Trading Up 0.6 %

Shares of NYSE OII opened at $26.02 on Friday. Oceaneering International, Inc. has a 1-year low of $18.67 and a 1-year high of $30.45. The business has a fifty day moving average price of $26.13 and a 200 day moving average price of $24.07. The stock 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 debt-to-equity ratio of 0.73, a current ratio of 1.72 and a quick ratio of 1.42.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays upped their price objective on shares of Oceaneering International from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Citigroup upped their price target 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. Finally, Benchmark reiterated a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research note on Thursday, July 25th.

Oceaneering International Company 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.