Oceaneering International, Inc. $OII Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in Oceaneering International by 25.6%, acquiring a total of 408,844 shares valued at approximately $8.9 million.
• Institutional investors and hedge funds collectively own 93.93% of Oceaneering International's stock, with several firms reporting significant increases in their holdings.
• Oceaneering's recent quarterly earnings exceeded analysts' expectations, reporting an EPS of $0.49 and revenue of $698.16 million, marking a year-over-year growth of 4.5%.

Cubist Systematic Strategies LLC lifted its stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 25.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 408,844 shares of the oil and gas company's stock after acquiring an additional 83,302 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.41% of Oceaneering International worth $8,917,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of 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 valued at $68,000 after acquiring an additional 711 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Oceaneering International during the fourth quarter valued at approximately $119,000. Vestcor Inc acquired a new position in shares of Oceaneering International during the first quarter valued at approximately $156,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Oceaneering International during the fourth quarter valued at approximately $200,000. Institutional investors and hedge funds own 93.93% of the company's stock.

Insider Buying and Selling

In related news, CFO Alan R. Curtis sold 14,840 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total value of $361,502.40. Following the completion of the transaction, the chief financial officer owned 155,259 shares of the company's stock, valued at approximately $3,782,109.24. This trade represents a 8.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company's stock.

Oceaneering International Trading Down 0.8%

Oceaneering International stock opened at $24.41 on Tuesday. The company has a 50 day moving average price of $22.03 and a 200 day moving average price of $20.67. Oceaneering International, Inc. has a 52 week low of $15.46 and a 52 week high of $30.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 2.00. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 12.33 and a beta of 1.64.

Oceaneering International (NYSE:OII - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.49 EPS for the quarter, topping 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 firm had revenue of $698.16 million during the quarter, compared to analyst estimates of $676.81 million. During the same quarter last year, the business posted $0.28 EPS. The company's revenue was up 4.5% on a year-over-year basis. Research analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Barclays lifted their price target on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.25.

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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