Oceaneering International, Inc. $OII Shares Sold by Earnest Partners LLC

Earnest Partners LLC reduced its stake in Oceaneering International, Inc. (NYSE:OII) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,016,698 shares of the oil and gas company’s stock after selling 202,686 shares during the quarter. Earnest Partners LLC’s holdings in Oceaneering International were worth $99,534,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Salomon & Ludwin LLC purchased a new stake in Oceaneering International during the 3rd quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Oceaneering International in the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 1,111 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Oceaneering International by 255.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Oceaneering International by 47.5% during the third quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock worth $48,000 after buying an additional 629 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Oceaneering International from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, March 10th. Weiss Ratings raised shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Barclays boosted their price target on Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Finally, Zacks Research cut Oceaneering International from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Oceaneering International currently has a consensus rating of “Hold” and an average target price of $33.67.

Oceaneering International Trading Down 6.0%

Shares of OII stock opened at $33.30 on Friday. The firm has a market cap of $3.31 billion, a P/E ratio of 9.51 and a beta of 1.18. Oceaneering International, Inc. has a 1-year low of $15.46 and a 1-year high of $39.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72. The firm’s 50-day simple moving average is $31.69 and its 200-day simple moving average is $26.86.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. The business had revenue of $668.57 million for the quarter, compared to analysts’ expectations of $678.16 million. During the same period last year, the company earned $0.37 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Insider Buying and Selling

In other news, SVP Earl Childress sold 22,518 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total transaction of $842,398.38. Following the completion of the sale, the senior vice president directly owned 35,577 shares of the company’s stock, valued at $1,330,935.57. The trade was a 38.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Karen H. Beachy sold 9,800 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total transaction of $366,618.00. Following the sale, the director directly owned 22,816 shares of the company’s stock, valued at $853,546.56. This represents a 30.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 140,844 shares of company stock worth $4,972,594 over the last 90 days. Company insiders own 2.10% of the company’s stock.

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.