Empowered Funds LLC Invests $5.43 Million in Oceaneering International, Inc. $OII

Key Points

• Empowered Funds LLC acquired 134,103 shares of Oceaneering International worth approximately $5.43 million, giving it a 0.13% stake. Institutional investors and hedge funds collectively own 93.93% of OII.
• Oceaneering exceeded quarterly expectations, reporting $0.63 EPS versus the $0.46 consensus and revenue of $768.18 million, up 10% year over year. The stock opened at $51.73, near its 12-month high of $54.25.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $45 average price target, while company insiders sold 26,901 shares worth about $1.28 million over the past three months.

Empowered Funds LLC acquired a new stake in Oceaneering International, Inc. (NYSE:OII - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 134,103 shares of the oil and gas company's stock, valued at approximately $5,434,000. Empowered Funds LLC owned 0.13% of Oceaneering International as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OII. Lido Advisors LLC boosted its stake in Oceaneering International by 2.8% in the 4th 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 during the last quarter. CSM Advisors LLC increased its stake 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 last quarter. NewEdge Advisors LLC increased its stake in shares of Oceaneering International by 2.9% during the 4th quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company's stock valued at $470,000 after acquiring an additional 545 shares during the last quarter. State of Wyoming lifted 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 acquiring an additional 621 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of Oceaneering International by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 93,342 shares of the oil and gas company's stock worth $1,934,000 after acquiring an additional 634 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Stock Performance

Oceaneering International stock opened at $51.73 on Tuesday. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 14.86 and a beta of 1.15. Oceaneering International, Inc. has a 12 month low of $22.02 and a 12 month high of $54.25. 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's 50-day moving average is $46.22 and its 200-day moving average is $40.02.

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

Insider Buying and Selling at Oceaneering International

In other news, Director Paul B. Murphy, Jr. sold 10,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $48.37, for a total value of $483,700.00. Following the completion of the sale, the director owned 68,916 shares of the company's stock, valued at $3,333,466.92. This represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher J. Dyer sold 1,200 shares of the stock in a transaction on 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 of the company's stock, valued at $700,550.30. The trade was a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 26,901 shares of company stock valued at $1,277,904. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OII. Citigroup boosted their target price on shares of Oceaneering International from $40.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Barclays increased their price target 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. Weiss Ratings lowered shares of Oceaneering International from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 14th. Finally, Wall Street Zen cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One 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.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $45.00.

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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