Oceaneering International, Inc. $OII Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 77.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,669 shares of the oil and gas company’s stock after selling 29,244 shares during the period. Hsbc Holdings PLC’s holdings in Oceaneering International were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of OII. Leuthold Group LLC acquired a new stake in Oceaneering International in the 4th quarter worth about $3,548,000. Vanguard Group Inc. raised its holdings in shares of Oceaneering International by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after acquiring an additional 187,707 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of Oceaneering International during the fourth quarter valued at approximately $5,489,000. CenterBook Partners LP lifted its position in shares of Oceaneering International by 506.8% in the fourth quarter. CenterBook Partners LP now owns 100,220 shares of the oil and gas company’s stock valued at $2,408,000 after acquiring an additional 83,705 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its position in shares of Oceaneering International by 22.0% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 568,734 shares of the oil and gas company’s stock valued at $13,667,000 after acquiring an additional 102,676 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Insider Activity

In other news, SVP Christopher J. Dyer sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the completion of the sale, the senior vice president owned 14,702 shares in the company, valued at $700,550.30. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the sale, the chief executive officer directly owned 397,279 shares in the company, valued at approximately $15,203,867.33. The trade was a 1.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,901 shares of company stock worth $985,554 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OII. Barclays lifted their price target on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings raised shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. Citigroup upped their target price on shares of Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, TD Cowen increased their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.00.

Oceaneering International Price Performance

Shares of OII stock opened at $48.77 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The company has a market capitalization of $4.85 billion, a PE ratio of 14.01 and a beta of 1.15. The firm’s 50-day moving average is $40.83 and its two-hundred day moving average is $36.85. Oceaneering International, Inc. has a 12 month low of $20.79 and a 12 month high of $53.98.

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.