Oceaneering International, Inc. $OII Stake Increased by Legato Capital Management LLC

Legato Capital Management LLC increased its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 53.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 45,987 shares of the oil and gas company’s stock after purchasing an additional 15,999 shares during the quarter. Legato Capital Management LLC’s holdings in Oceaneering International were worth $1,140,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Salomon & Ludwin LLC purchased a new stake in Oceaneering International in the 3rd quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of 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% in 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. SBI Securities Co. Ltd. boosted its holdings in shares of Oceaneering International by 255.1% during the third 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 period. Finally, Bessemer Group Inc. grew its position in 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 valued at $48,000 after purchasing an additional 629 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Oceaneering International news, SVP Holly Kriendler sold 5,798 shares of the stock in a transaction on Thursday, February 26th. The stock was 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 in the company, valued at approximately $921,631.62. This trade represents a 19.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen H. Beachy sold 9,800 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total value 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. The SEC filing for this sale provides additional information. Insiders have sold 140,844 shares of company stock worth $4,972,594 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Oceaneering International Price Performance

NYSE OII opened at $35.16 on Wednesday. The stock has a market capitalization of $3.49 billion, a PE ratio of 10.05 and a beta of 1.18. The stock has a 50-day simple moving average of $29.99 and a 200 day simple moving average of $26.23. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.72 and a current ratio of 1.99. Oceaneering International, Inc. has a twelve month low of $15.46 and a twelve month high of $39.00.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported $0.45 EPS for the quarter, beating 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 business had revenue of $668.57 million during the quarter, compared to analyst estimates of $678.16 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OII shares. TD Cowen lifted their target price on shares of Oceaneering International from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday. Weiss Ratings upgraded Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Barclays lifted 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Oceaneering International has an average rating of “Moderate Buy” and an average price target of $30.33.

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.