JPMorgan Chase & Co. Buys 371,586 Shares of Oceaneering International, Inc. $OII

JPMorgan Chase & Co. lifted its stake in Oceaneering International, Inc. (NYSE:OII) by 94.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 763,907 shares of the oil and gas company’s stock after acquiring an additional 371,586 shares during the quarter. JPMorgan Chase & Co.’s holdings in Oceaneering International were worth $18,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Oceaneering International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock valued at $1,312,000 after purchasing an additional 2,633 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Oceaneering International by 1.9% in the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock valued at $2,634,000 after buying an additional 2,310 shares during the last quarter. Strs Ohio acquired a new stake in shares of Oceaneering International in the 1st quarter valued at approximately $168,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Oceaneering International by 6.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,827 shares of the oil and gas company’s stock valued at $535,000 after buying an additional 1,643 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Oceaneering International by 129.1% in the second quarter. SG Americas Securities LLC now owns 10,599 shares of the oil and gas company’s stock valued at $220,000 after buying an additional 5,972 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on OII shares. Citigroup upped their price target on shares of Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Barclays lifted their price objective on shares of Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. TD Cowen upped their target price on shares of Oceaneering International from $28.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.67.

Oceaneering International Stock Down 3.0%

OII opened at $36.10 on Thursday. The stock’s fifty day simple moving average is $33.08 and its 200 day simple moving average is $27.47. Oceaneering International, Inc. has a 1-year low of $15.46 and a 1-year high of $39.00. The stock has a market cap of $3.59 billion, a PE ratio of 10.31 and a beta of 1.18. The company has a current ratio of 1.99, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45.

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

Insider Activity at Oceaneering International

In other Oceaneering International news, SVP Holly Kriendler sold 5,798 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $37.31, for a total value of $216,323.38. Following the transaction, the senior vice president directly owned 24,702 shares of the company’s stock, valued at $921,631.62. This represents a 19.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen H. Beachy sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $366,618.00. Following the sale, the director owned 22,816 shares of the company’s stock, valued at $853,546.56. This trade 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 a total of 140,844 shares of company stock worth $4,972,594 in the last quarter. 2.10% of the stock is owned by corporate insiders.

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.