First Trust Advisors LP reduced its position in Oceaneering International, Inc. (NYSE:OII - Free Report) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 435,176 shares of the oil and gas company's stock after selling 127,310 shares during the quarter. First Trust Advisors LP owned 0.44% of Oceaneering International worth $15,436,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Oceaneering International during the 3rd quarter worth $28,000. Quarry LP purchased a new position in Oceaneering International in the third quarter valued at about $30,000. EverSource Wealth Advisors LLC grew its stake in Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 1,111 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Oceaneering International in the first quarter worth about $53,000. Finally, Hantz Financial Services Inc. raised its holdings in Oceaneering International by 248.8% in the fourth quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 1,627 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
OII has been the subject of a number of recent analyst reports. Weiss Ratings raised Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday. TD Cowen upped their target price on Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a research report on Thursday, April 30th. Barclays raised their price target on Oceaneering International from $39.00 to $47.00 and gave the stock an "equal weight" rating in a report on Monday. Wall Street Zen upgraded Oceaneering International from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Finally, Citigroup upped their price objective on shares of Oceaneering International from $35.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, June 18th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $41.00.
Check Out Our Latest Analysis on Oceaneering International
Insider Buying and Selling
In related news, CEO Roderick A. Larson sold 5,000 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.27, for a total transaction of $191,350.00. Following the completion of the sale, the chief executive officer directly owned 397,279 shares in the company, valued at approximately $15,203,867.33. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company's stock.
Oceaneering International Stock Performance
NYSE OII opened at $47.68 on Friday. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 13.70 and a beta of 1.15. Oceaneering International, Inc. has a twelve month low of $20.79 and a twelve month high of $53.98. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average of $40.63 and a 200 day moving average of $36.70.
Oceaneering International Company Profile
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Free Report)
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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