Leuthold Group LLC Acquires New Shares in Oceaneering International, Inc. $OII

Key Points

• Leuthold Group LLC initiated a new position in Oceaneering International in the fourth quarter, buying 147,639 shares worth about $3.55 million.
• Oceaneering International shares were down 2.4% to $37.80, but the stock remains near its 52-week high of $40.12 and has gained support from several institutional investors, which now own 93.93% of the company.
• The company missed EPS estimates in its latest quarter, reporting $0.30 per share versus $0.35 expected, even though revenue came in above forecasts at $692.43 million and rose 2.7% year over year.

Leuthold Group LLC acquired a new stake in Oceaneering International, Inc. (NYSE:OII - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 147,639 shares of the oil and gas company's stock, valued at approximately $3,548,000. Leuthold Group LLC owned approximately 0.15% of Oceaneering International as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. SummerHaven Investment Management LLC bought a new position in Oceaneering International during the 3rd quarter worth about $967,000. Essex Investment Management Co. LLC increased its holdings in Oceaneering International by 58.7% during the 3rd quarter. Essex Investment Management Co. LLC now owns 159,261 shares of the oil and gas company's stock worth $3,946,000 after purchasing an additional 58,925 shares in the last quarter. CenterBook Partners LP bought a new position in Oceaneering International during the 3rd quarter worth about $409,000. Public Sector Pension Investment Board increased its holdings in Oceaneering International by 14.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 390,866 shares of the oil and gas company's stock worth $9,686,000 after purchasing an additional 47,922 shares in the last quarter. Finally, Old West Investment Management LLC increased its holdings in Oceaneering International by 21.1% during the 3rd quarter. Old West Investment Management LLC now owns 238,103 shares of the oil and gas company's stock worth $5,900,000 after purchasing an additional 41,466 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Oceaneering International Trading Down 2.4%

Shares of NYSE:OII opened at $37.80 on Friday. Oceaneering International, Inc. has a 52-week low of $18.45 and a 52-week high of $40.12. The company has a market capitalization of $3.77 billion, a P/E ratio of 11.22 and a beta of 1.17. The company has a 50-day simple moving average of $36.35 and a 200 day simple moving average of $30.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Zacks Research cut Oceaneering International from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. TD Cowen increased their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Thursday, April 30th. Weiss Ratings upgraded Oceaneering International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Barclays increased their target price on Oceaneering International from $32.00 to $39.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Finally, Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, March 1st. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $36.67.

Insiders Place Their Bets

In related news, COO Benjamin Laura sold 5,106 shares of the firm's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $36.88, for a total value of $188,309.28. Following the completion of the sale, the chief operating officer directly owned 40,805 shares in the company, valued at approximately $1,504,888.40. This trade represents a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Earl Childress sold 22,518 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total transaction of $842,398.38. Following the completion of the sale, the senior vice president owned 35,577 shares of the company's stock, valued at $1,330,935.57. This trade represents a 38.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,689 shares of company stock worth $4,204,360 in the last three months. Insiders own 1.30% of the company's stock.

Oceaneering International 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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