693,549 Shares in Oceaneering International, Inc. $OII Acquired by Old West Investment Management LLC

Key Points

• Old West Investment Management acquired 693,549 shares of Oceaneering International, valued at approximately $28.1 million, making OII its second-largest holding and representing about 0.70% of the company.
• Institutional investors own 93.93% of OII, while company insiders have sold 26,901 shares worth about $1.28 million over the past three months.
• OII shares recently traded at $52.08, near their 52-week high, while analysts maintain a consensus “Hold” rating with an average price target of $45.00.

Old West Investment Management LLC bought a new stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 693,549 shares of the oil and gas company's stock, valued at approximately $28,103,000. Oceaneering International accounts for 3.0% of Old West Investment Management LLC's holdings, making the stock its 2nd biggest holding. Old West Investment Management LLC owned approximately 0.70% of Oceaneering International at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lido Advisors LLC boosted its stake in shares of 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 acquiring an additional 335 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Oceaneering International by 0.7% in the 4th quarter. State of Alaska Department of Revenue now owns 54,458 shares of the oil and gas company's stock worth $1,307,000 after purchasing an additional 380 shares in the last quarter. CSM Advisors LLC increased its stake in shares of Oceaneering International by 3.1% in the 3rd quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company's stock worth $359,000 after purchasing an additional 428 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Oceaneering International by 2.9% in the 4th quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company's stock worth $470,000 after purchasing an additional 545 shares during the period. Finally, State of Wyoming raised its holdings in Oceaneering International by 5.8% in the 4th quarter. State of Wyoming now owns 11,299 shares of the oil and gas company's stock worth $272,000 after purchasing an additional 621 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Christopher J. Dyer sold 1,200 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the transaction, the senior vice president directly owned 14,702 shares in the company, valued at $700,550.30. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Kevin Mcevoy sold 3,000 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.92, for a total value of $143,760.00. Following the completion of the transaction, the director directly owned 134,133 shares of the company's stock, valued at approximately $6,427,653.36. This trade represents a 2.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,901 shares of company stock valued at $1,277,904 over the last three months. Insiders own 1.30% of the company's stock.

Oceaneering International Trading Down 0.2%

Shares of Oceaneering International stock opened at $52.08 on Monday. The company has a market capitalization of $5.18 billion, a P/E ratio of 14.97 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. The company has a fifty day moving average of $43.16 and a 200 day moving average of $38.43. Oceaneering International, Inc. has a fifty-two week low of $22.02 and a fifty-two week high of $53.98.

Analysts Set New Price Targets

OII has been the subject of several recent research reports. TD Cowen boosted their price target on Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a report on Thursday, April 30th. Barclays raised their price objective on Oceaneering International from $39.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Weiss Ratings raised Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Citigroup boosted their price objective on Oceaneering International from $40.00 to $52.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $45.00.

About Oceaneering International

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.

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