EP Wealth Advisors LLC Makes New $855,000 Investment in Oceaneering International, Inc. $OII

Key Points

• EP Wealth Advisors purchased 21,106 Oceaneering International shares during the second quarter, valued at approximately $855,000. Institutional investors collectively own 93.93% of OII’s outstanding stock.
• Analysts maintain a generally neutral outlook, with one Buy rating and four Hold ratings; the consensus target price is $45, below the reported share price of $53.01.
• Oceaneering exceeded quarterly expectations, reporting $0.63 in earnings per share versus the $0.46 consensus and revenue of $768.18 million, up 10% year over year. Company directors sold a combined 13,000 shares in recent transactions, while insiders sold 26,901 shares worth about $1.28 million over the last quarter.

EP Wealth Advisors LLC purchased a new position in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,106 shares of the oil and gas company's stock, valued at approximately $855,000.

A number of other institutional investors have also made changes to their positions in the business. Lido Advisors LLC grew its position in Oceaneering International by 2.8% in the fourth quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company's stock valued at $299,000 after purchasing an additional 335 shares in the last quarter. CSM Advisors LLC grew its holdings in shares of Oceaneering International by 3.1% in 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 in the last quarter. NewEdge Advisors LLC increased its position in shares of Oceaneering International by 2.9% in the fourth 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 raised its holdings in Oceaneering International by 5.8% during the fourth 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 in the last quarter. Finally, California State Teachers Retirement System raised its holdings in Oceaneering International by 0.7% during the second 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 in the last quarter. Institutional investors own 93.93% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen boosted their price target on Oceaneering International from $34.00 to $36.00 and gave the stock a "hold" rating in a research report on Thursday, April 30th. Wall Street Zen cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Citigroup boosted their target price on shares of Oceaneering International from $40.00 to $52.00 and gave the stock 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 company an "equal weight" rating in a research note on Monday, July 27th. Finally, Weiss Ratings downgraded shares of Oceaneering International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, August 14th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Oceaneering International has an average rating of "Hold" and an average target price of $45.00.

Oceaneering International Stock Performance

OII opened at $53.01 on Monday. Oceaneering International, Inc. has a 12-month low of $22.02 and a 12-month high of $54.25. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 15.23 and a beta of 1.15. The business has a 50 day moving average of $44.53 and a 200-day moving average of $39.23. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42.

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

Insider Transactions at Oceaneering International

In other Oceaneering International 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 owned 134,133 shares in the company, valued at $6,427,653.36. This trade represents a 2.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of Oceaneering International 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 transaction, the director directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 26,901 shares of company stock worth $1,277,904 over the last quarter. 1.30% of the stock is currently owned by corporate 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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