Dockside LLC Invests $1.56 Million in Oceaneering International, Inc. $OII

Key Points

• Dockside LLC purchased 38,430 shares of Oceaneering International in the second quarter, establishing a stake valued at approximately $1.56 million. Institutional investors collectively own 93.93% of the company.
• Oceaneering shares rose 1.4% to $52.08, near the company’s 12-month high of $53.98. The stock has a $5.18 billion market capitalization and trades at a P/E ratio of 14.97.
• Analyst sentiment remains cautious, with one Buy rating and four Holds, producing a consensus Hold rating and an average price target of $45.00. Company insiders have sold 31,901 shares worth $1.47 million over the past 90 days.

Dockside LLC purchased a new stake in Oceaneering International, Inc. (NYSE:OII - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 38,430 shares of the oil and gas company's stock, valued at approximately $1,557,000.

A number of other institutional investors have also modified their holdings of the business. Annex Advisory Services LLC raised its stake in Oceaneering International by 29.3% during the second quarter. Annex Advisory Services LLC now owns 67,302 shares of the oil and gas company's stock worth $2,727,000 after acquiring an additional 15,254 shares during the period. Reinhart Partners LLC. acquired a new position in Oceaneering International in the second quarter valued at approximately $66,795,000. GAMMA Investing LLC boosted its stake in Oceaneering International by 27.1% in the second quarter. GAMMA Investing LLC now owns 5,124 shares of the oil and gas company's stock valued at $208,000 after acquiring an additional 1,092 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of Oceaneering International by 45.0% during the second quarter. Central Pacific Bank Trust Division now owns 21,696 shares of the oil and gas company's stock valued at $879,000 after purchasing an additional 6,736 shares during the last quarter. Finally, Chelsea Counsel Co. acquired a new stake in shares of Oceaneering International during the 1st quarter worth approximately $568,000. Institutional investors own 93.93% of the company's stock.

Oceaneering International Stock Up 1.4%

OII opened at $52.08 on Friday. Oceaneering International, Inc. has a 12 month low of $22.02 and a 12 month high of $53.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The stock has a market cap of $5.18 billion, a P/E ratio of 14.97 and a beta of 1.15. The stock's 50 day moving average price is $43.16 and its 200 day moving average price is $38.36.

Wall Street Analyst Weigh In

OII has been the subject of a number of analyst reports. Weiss Ratings upgraded Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. TD Cowen raised their target price on Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. Barclays boosted their price target 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. Finally, Citigroup upped their price target on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a "neutral" rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Oceaneering International has a consensus rating of "Hold" and an average price target of $45.00.

Insider Buying and Selling

In other news, Director M Kevin Mcevoy sold 3,000 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.92, for a total transaction of $143,760.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher J. Dyer sold 1,200 shares of Oceaneering International stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the sale, the senior vice president owned 14,702 shares in the company, valued at approximately $700,550.30. This represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 31,901 shares of company stock valued at $1,469,254. Company insiders own 1.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source