Greenhouse Funds LLLP Sells 421,716 Shares of Oceaneering International, Inc. $OII

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 reduced its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 15.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,268,079 shares of the oil and gas company's stock after selling 421,716 shares during the period. Oceaneering International accounts for 2.3% of Greenhouse Funds LLLP's holdings, making the stock its 19th biggest holding. Greenhouse Funds LLLP owned about 2.25% of Oceaneering International worth $49,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in OII. GAMMA Investing LLC lifted its position in shares of Oceaneering International by 29.7% in the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock worth $68,000 after purchasing an additional 711 shares during the period. Tower Research Capital LLC TRC lifted its position in Oceaneering International by 191.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company's stock valued at $85,000 after acquiring an additional 2,131 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Oceaneering International during the fourth quarter valued at approximately $119,000. Vestcor Inc purchased a new stake in Oceaneering International during the first quarter valued at approximately $156,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Oceaneering International during the fourth quarter valued at approximately $200,000. 93.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Oceaneering International

In related news, CFO Alan R. Curtis sold 14,840 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total transaction of $361,502.40. Following the completion of the transaction, the chief financial officer 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on OII. Barclays increased their target price 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. Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One research 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, the stock has an average rating of "Hold" and an average price target of $28.25.

Oceaneering International Trading Down 2.4%

NYSE OII opened at $23.72 on Thursday. The company has a market capitalization of $2.38 billion, a PE ratio of 11.98 and a beta of 1.64. The company has a fifty day moving average of $22.16 and a 200 day moving average of $20.71. Oceaneering International, Inc. has a 1 year low of $15.46 and a 1 year high of $30.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.00 and a quick ratio of 1.67.

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

Oceaneering International Profile

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.

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