Oceaneering International, Inc. $OII Shares Sold by Greenhouse Funds LLLP

Key Points

• Greenhouse Funds LLLP has reduced its stake in Oceaneering International by 15.7%, selling 421,716 shares and now owning 2,268,079 shares.
• Multiple hedge funds have adjusted their holdings in Oceaneering International, with GAMMA Investing LLC increasing its stake by 29.7% during the first quarter.
• Analysts have varied ratings on Oceaneering International, with Barclays raising its target price to $22.00, and others giving a mix of Hold and Buy ratings.

Greenhouse Funds LLLP decreased its position in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,268,079 shares of the oil and gas company's stock after selling 421,716 shares during the quarter. Oceaneering International makes up about 2.3% of Greenhouse Funds LLLP's holdings, making the stock its 19th largest position. Greenhouse Funds LLLP owned 2.25% of Oceaneering International worth $49,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OII. Brown Advisory Inc. grew its holdings in shares of Oceaneering International by 27.6% during the first quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company's stock worth $142,767,000 after buying an additional 1,416,251 shares during the last quarter. Nuveen LLC purchased a new position in shares of Oceaneering International during the first quarter worth about $11,993,000. Cubist Systematic Strategies LLC purchased a new position in shares of Oceaneering International during the fourth quarter worth about $8,490,000. American Century Companies Inc. grew its holdings in shares of Oceaneering International by 9.6% during the first quarter. American Century Companies Inc. now owns 3,113,578 shares of the oil and gas company's stock worth $67,907,000 after buying an additional 271,868 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Oceaneering International during the first quarter worth about $5,039,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OII. Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Citigroup raised their price objective on shares of Oceaneering International from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Barclays raised their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Oceaneering International presently has an average rating of "Hold" and a consensus price target of $27.00.

Oceaneering International Trading Up 0.1%

OII traded up $0.03 during trading on Tuesday, hitting $24.07. The company's stock had a trading volume of 178,300 shares, compared to its average volume of 846,845. The firm's 50 day moving average price is $22.37 and its 200-day moving average price is $20.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.00 and a quick ratio of 1.67. The stock has a market cap of $2.41 billion, a PE ratio of 12.17 and a beta of 1.64. Oceaneering International, Inc. has a twelve month low of $15.46 and a twelve month high of $30.98.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.07. The company had revenue of $698.16 million during the quarter, compared to the consensus estimate of $676.81 million. Oceaneering International had a return on equity of 22.09% and a net margin of 7.31%.Oceaneering International's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. On average, analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Insider Activity at Oceaneering International

In other news, CFO Alan R. Curtis sold 14,840 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total transaction of $361,502.40. Following the completion of the sale, the chief financial officer directly owned 155,259 shares in the company, valued at $3,782,109.24. This represents a 8.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by insiders.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.