Ieq Capital LLC Invests $389,000 in Oceaneering International, Inc. $OII

Key Points

• Ieq Capital LLC has acquired a new position in Oceaneering International, Inc. by purchasing 17,842 shares valued at approximately $389,000.
• Oceaneering International's stock is currently trading at $24.68, with a market cap of $2.47 billion and a P/E ratio of 12.46.
• Wall Street analysts have mixed views, with one lowering the rating from "buy" to "hold" and a consensus price target of $28.25 for the stock.

Ieq Capital LLC bought a new stake in Oceaneering International, Inc. (NYSE:OII - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,842 shares of the oil and gas company's stock, valued at approximately $389,000.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in Oceaneering International by 29.7% during the first quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock worth $68,000 after buying an additional 711 shares during the last quarter. Foundry Partners LLC increased its stake in shares of Oceaneering International by 8.5% in the first quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company's stock worth $304,000 after purchasing an additional 1,096 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Oceaneering International by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the oil and gas company's stock worth $242,000 after purchasing an additional 1,256 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Oceaneering International by 17.6% in the first quarter. Central Pacific Bank Trust Division now owns 9,230 shares of the oil and gas company's stock worth $201,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Oceaneering International by 0.8% in the first quarter. Rhumbline Advisers now owns 258,594 shares of the oil and gas company's stock worth $5,640,000 after purchasing an additional 2,070 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Insider Transactions at Oceaneering International

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of Oceaneering International stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 155,259 shares in the company, valued at $3,782,109.24. The trade was a 8.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

OII has been the subject of several recent research reports. Barclays lifted their target price on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note 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. Finally, Citigroup lifted their target price on shares of Oceaneering International from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Oceaneering International presently has an average rating of "Hold" and an average price target of $27.00.

Oceaneering International Price Performance

Shares of OII stock traded up $0.53 during trading hours on Wednesday, reaching $24.41. The stock had a trading volume of 485,348 shares, compared to its average volume of 561,094. The stock's fifty day simple moving average is $22.48 and its 200 day simple moving average is $20.70. The company has a current ratio of 2.00, a quick ratio of 1.67 and a debt-to-equity ratio of 0.57. Oceaneering International, Inc. has a 12 month low of $15.46 and a 12 month high of $30.98. The firm has a market capitalization of $2.45 billion, a PE ratio of 12.33 and a beta of 1.64.

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

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.