Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Oceaneering International, Inc. $OII

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Oceaneering International, Inc. (NYSE:OII) during the second quarter, Holdings Channel reports. The fund purchased 71,302 shares of the oil and gas company’s stock, valued at approximately $2,889,000.

A number of other institutional investors have also made changes to their positions in the stock. Morgan Stanley Institutional Investment Advisors LLC bought a new position in Oceaneering International in the 4th quarter worth $94,847,000. Reinhart Partners LLC. acquired a new stake in shares of Oceaneering International during the 2nd quarter worth approximately $66,795,000. Balyasny Asset Management L.P. raised its stake in shares of Oceaneering International by 916.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock valued at $28,219,000 after buying an additional 1,227,950 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Oceaneering International during the second quarter worth about $45,658,000. Finally, Old West Investment Management LLC bought a new position in shares of Oceaneering International during the 2nd quarter worth approximately $28,103,000. 93.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Oceaneering International

In related news, Director Paul B. Murphy, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $48.37, for a total value of $483,700.00. Following the transaction, the director owned 68,916 shares in the company, valued at approximately $3,333,466.92. This trade represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher J. Dyer sold 1,200 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 14,702 shares in the company, valued at approximately $700,550.30. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,901 shares of company stock worth $1,277,904 over the last quarter. Company insiders own 1.30% of the company’s stock.

Oceaneering International Trading Up 1.0%

Oceaneering International stock opened at $53.01 on Friday. 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 firm has a 50-day moving average of $44.53 and a 200-day moving average of $39.16. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 15.23 and a beta of 1.15. Oceaneering International, Inc. has a one year low of $22.02 and a one year high of $54.25.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OII. Citigroup raised their price objective on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Weiss Ratings lowered shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. TD Cowen lifted their price objective on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Barclays raised their price target on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Oceaneering International presently has a consensus rating of “Hold” and an average price target of $45.00.

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.