Jennison Associates LLC Sells 27,898 Shares of Oceaneering International, Inc. $OII

Key Points

• Jennison Associates LLC reduced its stake in Oceaneering International by 31.7% in the first quarter, selling 27,898 shares and leaving it with 60,012 shares worth about $2.13 million.
• Oceaneering’s recent results were strong, with Q2 revenue rising 10% year over year to $768.2 million and diluted EPS of $0.65 topping the $0.46 estimate. Net income also increased 16.8% to $63.6 million, suggesting improved profitability.
• Wall Street remains cautious despite the earnings beat, with analysts maintaining a consensus “Hold” rating and an average price target of $38.33, even as recent price targets have been raised.

Jennison Associates LLC cut its holdings in Oceaneering International, Inc. (NYSE:OII - Free Report) by 31.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,012 shares of the oil and gas company's stock after selling 27,898 shares during the period. Jennison Associates LLC owned 0.06% of Oceaneering International worth $2,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Oceaneering International by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company's stock valued at $297,279,000 after buying an additional 187,707 shares in the last quarter. State Street Corp lifted its holdings in shares of Oceaneering International by 4.9% in the fourth quarter. State Street Corp now owns 4,647,252 shares of the oil and gas company's stock worth $111,673,000 after buying an additional 215,366 shares in the last quarter. Morgan Stanley Institutional Investment Advisors LLC bought a new position in shares of Oceaneering International during the fourth quarter worth $94,847,000. Dimensional Fund Advisors LP boosted its position in shares of Oceaneering International by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,477,068 shares of the oil and gas company's stock worth $83,556,000 after acquiring an additional 191,117 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Oceaneering International by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 2,304,738 shares of the oil and gas company's stock valued at $55,396,000 after acquiring an additional 51,871 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Oceaneering International in a research note on Friday, May 22nd. TD Cowen raised their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a research report on Thursday, April 30th. Citigroup boosted their target price on Oceaneering International from $35.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, June 18th. Finally, Barclays increased their price target on Oceaneering International from $32.00 to $39.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $38.33.

Insider Activity at Oceaneering International

In related news, CEO Roderick A. Larson sold 5,000 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the transaction, the chief executive officer owned 397,279 shares of the company's stock, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company's stock.

Key Oceaneering International News

Here are the key news stories impacting Oceaneering International this week:

• Positive Sentiment: Oceaneering reported Q2 revenue of $768.2 million, up 10% year over year and above Wall Street estimates, signaling healthy demand across its business. Oceaneering Reports Second Quarter 2026 Results
• Positive Sentiment: Diluted EPS came in at $0.65, well ahead of the $0.46 consensus estimate, while net income rose 16.8% to $63.6 million, reinforcing the earnings beat. Oceaneering reports bullish Q2 CY2026
• Positive Sentiment: Management also appears to have improved profitability, with gross profit and operating profit both increasing, which suggests stronger margins rather than just top-line growth. Oceaneering International (OII) Stock Rises on Q2 2026 Earnings
• Neutral Sentiment: Cash and cash equivalents increased to $607.5 million, giving the company a solid liquidity position, while debt levels remained manageable overall. Oceaneering International (OII) Stock Rises on Q2 2026 Earnings
• Neutral Sentiment: Analyst sentiment remains cautious overall, with a consensus rating of “Hold” and recent price targets clustered below the current share price. Oceaneering International, Inc. Receives Consensus Rating of Hold from Analysts
• Negative Sentiment: Recent insider trading has skewed toward sales rather than purchases, which may temper some of the optimism around the earnings beat. Oceaneering International (OII) Stock Rises on Q2 2026 Earnings

Oceaneering International Price Performance

Oceaneering International stock opened at $45.00 on Thursday. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 13.35 and a beta of 1.15. The firm's fifty day moving average is $39.32 and its 200 day moving average is $35.72. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. Oceaneering International, Inc. has a 52-week low of $20.79 and a 52-week high of $45.91.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The business had revenue of $692.43 million during the quarter, compared to analysts' expectations of $671.35 million. During the same period in the previous year, the business earned $0.43 earnings per share. The business's quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts forecast that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Oceaneering International Company 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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