CenterBook Partners LP Acquires 83,705 Shares of Oceaneering International, Inc. $OII

Key Points

• CenterBook Partners LP significantly boosted its Oceaneering International stake by 506.8% in Q4, buying 83,705 additional shares and bringing its total holdings to 100,220 shares worth about $2.4 million.
• CEO Roderick A. Larson sold 5,000 shares at an average price of $38.27, trimming his ownership by 1.24%; insiders still own about 1.30% of the company.
• Oceaneering reported Q1 earnings of $0.30 per share, missing expectations, while revenue came in above estimates at $692.43 million; analysts currently rate the stock a Hold with an average price target of $36.67.

CenterBook Partners LP raised its holdings in Oceaneering International, Inc. (NYSE:OII - Free Report) by 506.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,220 shares of the oil and gas company's stock after purchasing an additional 83,705 shares during the period. CenterBook Partners LP owned approximately 0.10% of Oceaneering International worth $2,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lido Advisors LLC grew its position in Oceaneering International by 2.8% during the fourth 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 in the last quarter. State of Alaska Department of Revenue raised its holdings in 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 valued at $1,307,000 after acquiring an additional 380 shares in the last quarter. CSM Advisors LLC lifted its position in shares of Oceaneering International by 3.1% during the 3rd 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 during the period. Smartleaf Asset Management LLC lifted its position in shares of Oceaneering International by 15.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,464 shares of the oil and gas company's stock valued at $87,000 after acquiring an additional 469 shares during the period. Finally, State of Wyoming grew its holdings in shares of Oceaneering International by 5.8% during 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 in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the sale, the chief executive officer owned 397,279 shares of the company's stock, valued at approximately $15,203,867.33. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.

Oceaneering International Stock Performance

Oceaneering International stock opened at $38.99 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.89 billion, a PE ratio of 11.57 and a beta of 1.16. Oceaneering International, Inc. has a 12-month low of $20.21 and a 12-month high of $40.12. The business's 50-day moving average price is $37.47 and its two-hundred day moving average price is $32.47.

Oceaneering International (NYSE:OII - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.05). The company had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The firm's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.43 EPS. As a group, analysts expect that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on OII. Weiss Ratings restated a "buy (b-)" rating on shares of Oceaneering International in a research report on Friday, May 22nd. Citigroup increased their price objective on shares of Oceaneering International from $25.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 10th. TD Cowen raised their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a report on Thursday, April 30th. Zacks Research cut shares of Oceaneering International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 5th. Finally, Barclays increased their price target on shares of Oceaneering International from $32.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Oceaneering International presently has an average rating of "Hold" and an average price target of $36.67.

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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