Barrow Hanley Mewhinney & Strauss LLC Invests $92.10 Million in Oceaneering International, Inc. $OII

Key Points

• Barrow Hanley Mewhinney & Strauss LLC acquired 2.27 million Oceaneering International shares worth approximately $92.1 million, giving it a 2.28% stake. Institutional investors collectively own 93.93% of OII.
• Oceaneering reported quarterly EPS of $0.63, beating estimates of $0.46, while revenue reached $768.18 million and increased 10% year over year.
• Analysts maintain a generally cautious view, with one Buy rating and four Holds and a consensus price target of $45. OII opened at $53.01, near its 52-week high of $54.25, while company insiders sold $1.28 million of stock during the latest quarter.

Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,272,949 shares of the oil and gas company's stock, valued at approximately $92,100,000. Barrow Hanley Mewhinney & Strauss LLC owned approximately 2.28% of Oceaneering International as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Oceaneering International during the second quarter worth $664,659,000. Vanguard Group Inc. boosted its stake in Oceaneering International by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company's stock worth $297,279,000 after purchasing an additional 187,707 shares in the last quarter. State Street Corp increased its holdings in shares of Oceaneering International by 4.9% in the fourth quarter. State Street Corp now owns 4,647,252 shares of the oil and gas company's stock valued at $111,673,000 after purchasing an additional 215,366 shares in the last quarter. Morgan Stanley Institutional Investment Advisors LLC bought a new position in Oceaneering International in the fourth quarter valued at about $94,847,000. Finally, Dimensional Fund Advisors LP grew its stake in Oceaneering International by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,477,068 shares of the oil and gas company's stock valued at $83,556,000 after acquiring an additional 191,117 shares during the period. Institutional investors own 93.93% of the company's stock.

Wall Street Analyst Weigh In

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

Oceaneering International Stock Up 0.0%

Oceaneering International stock opened at $53.01 on Monday. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 15.23 and a beta of 1.15. 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 1-year low of $22.02 and a 1-year high of $54.25. The firm's fifty day moving average price is $44.53 and its two-hundred day moving average price is $39.23.

Oceaneering International (NYSE:OII - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. On average, equities research analysts predict that Oceaneering International, Inc. will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 10,000 shares of Oceaneering International stock in a transaction that occurred 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 directly owned 68,916 shares of the company's stock, valued at $3,333,466.92. The trade was a 12.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher J. Dyer sold 1,200 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the transaction, the senior vice president directly owned 14,702 shares in the company, valued at approximately $700,550.30. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,901 shares of company stock worth $1,277,904 in the last quarter. 1.30% of the stock is currently owned by company insiders.

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.

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