EFG International AG Acquires New Stake in Oceaneering International, Inc. $OII

Key Points

• EFG International AG acquired 91,994 shares of Oceaneering International in the second quarter, valued at approximately $3.73 million, giving it a 0.09% stake. Institutional investors and hedge funds collectively own 93.93% of OII.
• Analyst sentiment remains cautious, with one Buy rating and four Hold ratings. The consensus rating is Hold, with an average price target of $45, below the stock’s reported $49.43 opening price.
• Oceaneering reported stronger-than-expected quarterly results, posting $0.63 in EPS versus the $0.46 consensus estimate and $768.18 million in revenue, up 10% year over year. Meanwhile, company insiders sold 26,901 shares worth approximately $1.28 million over the past 90 days.

EFG International AG acquired a new position in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 91,994 shares of the oil and gas company's stock, valued at approximately $3,726,000. EFG International AG owned approximately 0.09% of Oceaneering International at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Oceaneering International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company's stock worth $1,312,000 after purchasing an additional 2,633 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Oceaneering International by 1.9% during the first quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company's stock worth $2,634,000 after buying an additional 2,310 shares in the last quarter. Strs Ohio acquired a new position in shares of Oceaneering International in the first quarter valued at approximately $168,000. Norges Bank purchased a new position in shares of Oceaneering International during the second quarter valued at approximately $1,485,000. Finally, Invesco Ltd. lifted its stake in shares of Oceaneering International by 8.0% during the second quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company's stock valued at $13,472,000 after buying an additional 48,382 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Oceaneering International

In other Oceaneering International news, SVP Christopher J. Dyer sold 1,200 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.65, for a total transaction of $57,180.00. Following the completion of the sale, the senior vice president directly owned 14,702 shares in the company, valued at $700,550.30. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Earl Childress sold 12,701 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $46.71, for a total value of $593,263.71. Following the completion of the transaction, the senior vice president owned 22,876 shares in the company, valued at approximately $1,068,537.96. This trade represents a 35.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,901 shares of company stock worth $1,277,904 over the last ninety days. 1.30% of the stock is owned by insiders.

Oceaneering International Stock Performance

Shares of OII stock opened at $49.43 on Thursday. 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 firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 14.20 and a beta of 1.15. Oceaneering International, Inc. has a one year low of $22.02 and a one year high of $54.25. The company has a 50 day moving average price of $45.31 and a 200 day moving average price of $39.63.

Oceaneering International (NYSE:OII - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.17. The company had revenue of $768.18 million for the quarter, compared to analyst estimates of $735.69 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. Oceaneering International's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $0.49 EPS. Sell-side analysts anticipate that Oceaneering International, Inc. will post 2.1 EPS for the current year.

Oceaneering International Company 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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