Oceaneering International, Inc. $OII Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its position in shares of Oceaneering International, Inc. (NYSE:OII) by 10.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,849,926 shares of the oil and gas company’s stock after selling 211,561 shares during the period. Van ECK Associates Corp’s holdings in Oceaneering International were worth $74,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Oceaneering International in the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Oceaneering International by 335.6% during the second 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 in the last quarter. Quarry LP acquired a new stake in shares of Oceaneering International during the third quarter worth about $30,000. Allworth Financial LP purchased a new position in shares of Oceaneering International in the second quarter valued at approximately $42,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Oceaneering International in the first quarter valued at approximately $53,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OII has been the topic of several recent research reports. Weiss Ratings downgraded shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Barclays increased their price objective on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Finally, Citigroup increased their price target on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.00.

Oceaneering International Price Performance

Oceaneering International stock opened at $50.62 on Friday. The stock has a market cap of $5.04 billion, a P/E ratio of 14.55 and a beta of 1.15. The company has a fifty day simple moving average of $45.90 and a 200-day simple moving average of $39.84. Oceaneering International, Inc. has a 12-month low of $22.02 and a 12-month high of $54.25. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.46 by $0.17. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The firm had revenue of $768.18 million for the quarter, compared to analyst estimates of $735.69 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. Oceaneering International’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts expect that Oceaneering International, Inc. will post 2.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director M Kevin Mcevoy sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.92, for a total transaction of $143,760.00. Following the completion of the sale, the director owned 134,133 shares in the company, valued at $6,427,653.36. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher J. Dyer sold 1,200 shares of the company’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 value of $57,180.00. Following the completion of the transaction, the senior vice president directly owned 14,702 shares of the company’s stock, valued at $700,550.30. This trade represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 26,901 shares of company stock valued at $1,277,904. 1.30% of the stock is owned by insiders.

Oceaneering International Company Profile

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.