Granite Investment Partners LLC Raises Stock Position in Oceaneering International, Inc. $OII

Granite Investment Partners LLC lifted its stake in Oceaneering International, Inc. (NYSE:OII) by 37.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 327,053 shares of the oil and gas company’s stock after purchasing an additional 88,673 shares during the period. Granite Investment Partners LLC owned 0.33% of Oceaneering International worth $11,601,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of OII. Wilmington Savings Fund Society FSB purchased a new position in shares of Oceaneering International during the third quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its holdings in 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 buying an additional 1,111 shares during the period. Quarry LP bought a new stake in Oceaneering International during the 3rd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Oceaneering International during the 1st quarter valued at approximately $53,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of Oceaneering International by 248.8% during the 4th quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 1,627 shares during the period. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Price Performance

OII stock opened at $41.25 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08. The firm has a 50 day moving average price of $38.21 and a 200-day moving average price of $34.40. Oceaneering International, Inc. has a 52-week low of $20.21 and a 52-week high of $41.49. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 12.24 and a beta of 1.15.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 EPS. Equities research analysts forecast that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on OII shares. Barclays increased their target price on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Citigroup lifted their price target on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. Finally, TD Cowen raised their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $38.33.

Insider Buying and Selling at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.27, for a total transaction of $191,350.00. Following the completion of the transaction, the chief executive officer directly owned 397,279 shares in the company, valued at $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.