Manatuck Hill Partners LLC Sells 29,400 Shares of Oceaneering International, Inc. $OII

Key Points

• Manatuck Hill Partners sharply reduced its Oceaneering International stake in the fourth quarter, selling 29,400 shares and leaving it with 10,600 shares worth about $255,000.
• Oceaneering International shares fell 4.7% to $35.56, while the company’s latest earnings missed expectations on EPS even though revenue came in above estimates.
• Analyst sentiment remains cautious: the stock has a consensus rating of Hold, with an average price target of $36.67, and one insider sale by CEO Roderick A. Larson was also disclosed.

Manatuck Hill Partners LLC cut its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 73.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,600 shares of the oil and gas company's stock after selling 29,400 shares during the quarter. Manatuck Hill Partners LLC's holdings in Oceaneering International were worth $255,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of OII. Wilmington Savings Fund Society FSB bought a new position in shares of Oceaneering International in the third quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its position in shares of Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 1,111 shares during the period. Quarry LP bought a new position in shares of Oceaneering International in the third quarter valued at about $30,000. Hantz Financial Services Inc. raised its position in shares of Oceaneering International by 248.8% in the fourth quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company's stock valued at $55,000 after purchasing an additional 1,627 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Oceaneering International by 33.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,995 shares of the oil and gas company's stock valued at $62,000 after purchasing an additional 747 shares during the period. 93.93% of the stock is owned by institutional investors.

Oceaneering International Trading Down 4.7%

Shares of Oceaneering International stock opened at $35.56 on Thursday. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 10.55 and a beta of 1.16. 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 12-month low of $20.21 and a 12-month high of $40.21. The firm's 50-day moving average price is $37.82 and its two-hundred day moving average price is $33.06.

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

Insider Buying and Selling at Oceaneering International

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

Analysts Set New Price Targets

Several equities analysts recently commented on OII shares. Zacks Research downgraded shares of Oceaneering International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. Barclays upped their price target on shares of Oceaneering International from $32.00 to $39.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Oceaneering International in a research note on Friday, May 22nd. Citigroup upped their price target on shares of Oceaneering International from $25.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, March 10th. Finally, Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Sunday, March 1st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $36.67.

About Oceaneering International

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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