Ranger Investment Management L.P. Takes $31.51 Million Position in Oceaneering International, Inc. $OII

Ranger Investment Management L.P. purchased a new position in shares of Oceaneering International, Inc. (NYSE:OII) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 777,643 shares of the oil and gas company’s stock, valued at approximately $31,510,000. Oceaneering International comprises 2.0% of Ranger Investment Management L.P.’s investment portfolio, making the stock its 13th biggest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OII. Lido Advisors LLC raised its position in Oceaneering International by 2.8% during the 4th quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company’s stock worth $299,000 after buying an additional 335 shares during the last quarter. CSM Advisors LLC boosted its holdings in shares of Oceaneering International by 3.1% in the third quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock valued at $359,000 after acquiring an additional 428 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Oceaneering International by 2.9% during the fourth quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 545 shares during the period. State of Wyoming increased its stake in shares of Oceaneering International by 5.8% during the fourth quarter. State of Wyoming now owns 11,299 shares of the oil and gas company’s stock worth $272,000 after acquiring an additional 621 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Oceaneering International by 0.7% during the second quarter. California State Teachers Retirement System now owns 93,342 shares of the oil and gas company’s stock worth $1,934,000 after purchasing an additional 634 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Stock Performance

Shares of OII opened at $53.01 on Monday. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. Oceaneering International, Inc. has a 52-week low of $22.02 and a 52-week high of $54.25. The company has a 50-day simple moving average of $44.53 and a 200-day simple moving average of $39.23. The company has a market capitalization of $5.28 billion, a PE ratio of 15.23 and a beta of 1.15.

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

Analyst Upgrades and Downgrades

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

Insider Activity at Oceaneering International

In other news, SVP Christopher J. Dyer sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total transaction of $57,180.00. Following the sale, the senior vice president owned 14,702 shares of the company’s stock, valued at $700,550.30. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $143,760.00. Following the sale, the director directly owned 134,133 shares in the company, valued at $6,427,653.36. This trade represents a 2.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 26,901 shares of company stock valued at $1,277,904 in the last 90 days. Insiders own 1.30% of the company’s stock.

Oceaneering International 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.