Squarepoint Ops LLC Buys 26,478 Shares of Oceaneering International, Inc. $OII

Key Points

• Squarepoint Ops increased its Oceaneering International stake by 74.5% in the second quarter, acquiring 26,478 shares and bringing its holdings to 62,023 shares valued at approximately $2.5 million. Institutional investors collectively own 93.93% of OII.
• Analysts remain broadly cautious, with one Buy rating and four Hold ratings. OII has an average price target of $45, while recent targets ranged from $47 to $52.
• Oceaneering reported stronger-than-expected quarterly results, posting $0.63 in EPS versus the $0.46 estimate and revenue of $768.18 million versus $735.69 million expected. Revenue increased 10% year over year.

Squarepoint Ops LLC lifted its stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 74.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,023 shares of the oil and gas company's stock after acquiring an additional 26,478 shares during the quarter. Squarepoint Ops LLC owned approximately 0.06% of Oceaneering International worth $2,513,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of OII. EP Wealth Advisors LLC bought a new stake in Oceaneering International during the 2nd quarter valued at $855,000. Great Lakes Advisors LLC purchased a new stake in shares of Oceaneering International in the 2nd quarter worth $445,000. Fifth Third Bancorp grew its position in shares of Oceaneering International by 6,782.5% during the 1st quarter. Fifth Third Bancorp now owns 29,526 shares of the oil and gas company's stock worth $1,047,000 after buying an additional 29,097 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of Oceaneering International during the 4th quarter worth $5,489,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Oceaneering International during the second quarter valued at $2,889,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Insider Activity

In other news, Director Paul B. Murphy, Jr. sold 10,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $48.37, for a total transaction of $483,700.00. Following the completion of the sale, the director owned 68,916 shares in the company, valued at approximately $3,333,466.92. This represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christopher J. Dyer sold 1,200 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total value of $57,180.00. Following the sale, the senior vice president owned 14,702 shares of the company's stock, valued at approximately $700,550.30. This represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,901 shares of company stock valued at $1,277,904 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OII. Citigroup lifted their price objective on Oceaneering International from $40.00 to $52.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Barclays increased their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. Finally, Wall Street Zen cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Oceaneering International presently has an average rating of "Hold" and an average price target of $45.00.

Oceaneering International Stock Performance

OII stock opened at $46.60 on Tuesday. Oceaneering International, Inc. has a one year low of $22.02 and a one year high of $54.25. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 13.39 and a beta of 1.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. The firm has a 50-day simple moving average of $48.59 and a two-hundred day simple moving average of $41.15.

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

Oceaneering International Company Profile

Oceaneering International, Inc is a Houston, Texas-based global engineering and technology company that provides products and services to the offshore energy, defense, aerospace, and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles (ROVs), subsea tooling, umbilicals, engineering services, and inspection, maintenance, and repair solutions for offshore infrastructure.

Oceaneering's business also includes offshore project management, asset integrity management, digital and data solutions, and the design and manufacture of specialized equipment.

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