Oceaneering International, Inc. $OII Stock Position Decreased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its Oceaneering International stake by 45.8% in the second quarter, selling 137,290 shares and retaining 162,283 shares worth approximately $6.6 million. Institutional investors collectively own 93.93% of OII.
• Oceaneering reported quarterly EPS of $0.63, beating estimates by $0.17, while revenue reached $768.18 million, up 10% year over year and ahead of forecasts.
• Analyst sentiment remains cautious: OII has a consensus “Hold” rating and a $45 average price target, below its reported opening price of $50.65. Company insiders also sold 26,901 shares worth about $1.28 million over the past 90 days.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 45.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,283 shares of the oil and gas company's stock after selling 137,290 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of Oceaneering International worth $6,576,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Lido Advisors LLC grew its holdings in shares of Oceaneering International by 2.8% during the fourth quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company's stock valued at $299,000 after purchasing an additional 335 shares during the last quarter. CSM Advisors LLC raised its position in shares of Oceaneering International by 3.1% during the 3rd quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company's stock worth $359,000 after purchasing an additional 428 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Oceaneering International by 2.9% in the 4th quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company's stock worth $470,000 after purchasing an additional 545 shares during the last quarter. State of Wyoming lifted its holdings in shares of Oceaneering International by 5.8% in the 4th quarter. State of Wyoming now owns 11,299 shares of the oil and gas company's stock worth $272,000 after purchasing an additional 621 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Oceaneering International by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 93,342 shares of the oil and gas company's stock valued at $1,934,000 after purchasing an additional 634 shares during the period. Institutional investors own 93.93% of the company's stock.

Insiders Place Their Bets

In other news, SVP Christopher Dyer sold 1,200 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total transaction of $57,180.00. Following the transaction, the senior vice president directly owned 14,702 shares of the company's stock, valued at approximately $700,550.30. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Earl Childress sold 12,701 shares of Oceaneering International stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the sale, the senior vice president owned 22,876 shares in the company, valued at approximately $1,068,537.96. This represents a 35.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 26,901 shares of company stock worth $1,277,904. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OII. Barclays upped their price objective on Oceaneering International from $39.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Citigroup upped their price target on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $45.00.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $50.65 on Wednesday. Oceaneering International, Inc. has a 12-month low of $22.02 and a 12-month high of $54.25. The company has a market cap of $5.04 billion, a PE ratio of 14.56 and a beta of 1.17. The stock has a 50 day simple moving average of $47.75 and a 200-day simple moving average of $40.80. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42.

Oceaneering International (NYSE:OII - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.46 by $0.17. The firm had revenue of $768.18 million for the quarter, compared to analysts' expectations of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The firm's revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. On average, equities research analysts forecast that Oceaneering International, Inc. will post 2.1 EPS for the current 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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