Oceaneering International (NYSE:OII) Stock: Insider Roderick Larson Sells 6,000 Shares

Oceaneering International, Inc. (NYSE:OII) CEO Roderick Larson sold 6,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $44.16, for a total value of $264,960.00. Following the completion of the transaction, the chief executive officer directly owned 385,279 shares of the company’s stock, valued at approximately $17,013,920.64. The trade was a 1.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Oceaneering International Stock Performance

Shares of OII stock opened at $36.35 on Thursday. The business’s 50-day moving average price is $45.36 and its 200-day moving average price is $40.39. Oceaneering International, Inc. has a 12 month low of $22.13 and a 12 month high of $54.25. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 11.05 and a beta of 1.30. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.40.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). Oceaneering International had a return on equity of 16.87% and a net margin of 11.37%. The firm had revenue of $784.55 million for the quarter, compared to the consensus estimate of $775.93 million. During the same quarter last year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts forecast that Oceaneering International, Inc. will post 2.10 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on OII shares. Barclays decreased their price target on shares of Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, October 26th. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Weiss Ratings lowered shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Citigroup decreased their price objective on Oceaneering International from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Lido Advisors LLC lifted its stake in Oceaneering International by 12.5% in the third quarter. Lido Advisors LLC now owns 15,015 shares of the oil and gas company’s stock valued at $655,000 after buying an additional 1,663 shares during the period. Leuthold Group LLC grew its position in shares of Oceaneering International by 8.7% during the 3rd quarter. Leuthold Group LLC now owns 155,429 shares of the oil and gas company’s stock worth $6,781,000 after buying an additional 12,493 shares during the period. Fulcrum Asset Management LLP grew its position in shares of Oceaneering International by 3.2% during the 3rd quarter. Fulcrum Asset Management LLP now owns 34,590 shares of the oil and gas company’s stock worth $1,530,000 after buying an additional 1,060 shares during the period. Ethic Inc. acquired a new stake in shares of Oceaneering International during the 3rd quarter worth approximately $662,000. Finally, StoneX Group Inc. bought a new stake in shares of Oceaneering International in the 3rd quarter valued at $277,000. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.