Oceaneering International (NYSE:OII) CEO Sells $264,960.00 in Stock

Oceaneering International, Inc. (NYSE:OII) CEO Roderick Larson sold 6,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $44.16, for a total transaction of $264,960.00. Following the completion of the sale, the chief executive officer owned 391,279 shares in the company, valued at $17,278,880.64. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Oceaneering International Stock Up 3.1%

Shares of OII stock traded up $1.38 on Monday, reaching $45.70. 823,810 shares of the stock were exchanged, compared to its average volume of 1,122,882. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 13.13 and a beta of 1.25. The business’s 50 day moving average price is $49.18 and its 200 day moving average price is $42.18. 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, Inc. has a twelve month low of $22.02 and a twelve month high of $54.25.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share 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 return on equity of 18.40% and a net margin of 12.19%.Oceaneering International’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. As a group, sell-side analysts expect that Oceaneering International, Inc. will post 2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oceaneering International

Hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new stake in Oceaneering International in the 2nd quarter worth about $35,000. Allworth Financial LP acquired a new position in shares of Oceaneering International during the second quarter worth $42,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Oceaneering International during the first quarter worth about $53,000. Public Employees Retirement System of Ohio acquired a new position in shares of Oceaneering International in the 2nd quarter valued at approximately $54,000. Finally, Persistent Asset Partners Ltd acquired a new position in Oceaneering International during the 2nd quarter worth $66,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup boosted 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. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Finally, Barclays lifted their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $45.00.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.

Oceaneering’s subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.