Tudor Investment Corp ET AL Raises Stock Position in Oceaneering International, Inc. $OII

Key Points

• Tudor Investment Corp raised its stake in Oceaneering by 210.8% in Q3 to 491,928 shares, worth $12.19 million (about 0.49% of the company).
• Oceaneering's latest quarter posted a slight EPS beat of $0.45 versus $0.44 expected, while revenue fell 6.3% year‑over‑year to $668.6 million.
• Analysts' consensus is a Hold with an average target of $33.67 versus the stock's recent price near $34.95, and insiders have sold roughly 140,844 shares (~$4.97 million) in the past 90 days.

Tudor Investment Corp ET AL lifted its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 210.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 491,928 shares of the oil and gas company's stock after purchasing an additional 333,666 shares during the period. Tudor Investment Corp ET AL owned 0.49% of Oceaneering International worth $12,190,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. CIBC Bancorp USA Inc. purchased a new position in shares of Oceaneering International during the third quarter valued at about $248,000. Wilmington Savings Fund Society FSB purchased a new stake in Oceaneering International in the third quarter worth about $28,000. NewEdge Advisors LLC bought a new stake in Oceaneering International during the 3rd quarter valued at approximately $471,000. CANADA LIFE ASSURANCE Co boosted its position in Oceaneering International by 2.8% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 85,445 shares of the oil and gas company's stock valued at $2,143,000 after acquiring an additional 2,342 shares in the last quarter. Finally, SIR Capital Management L.P. purchased a new position in shares of Oceaneering International during the 3rd quarter worth approximately $6,750,000. Institutional investors own 93.93% of the company's stock.

Oceaneering International Stock Down 0.3%

OII stock opened at $34.95 on Friday. The stock has a market capitalization of $3.47 billion, a P/E ratio of 9.99 and a beta of 1.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72. Oceaneering International, Inc. has a 1-year low of $15.46 and a 1-year high of $39.00. The business has a fifty day moving average price of $32.49 and a 200-day moving average price of $27.21.

Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The company had revenue of $668.57 million for the quarter, compared to analysts' expectations of $678.16 million. During the same period last year, the firm posted $0.37 earnings per share. Oceaneering International's revenue was down 6.3% compared to the same quarter last year. Equities analysts forecast that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Oceaneering International

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the firm's stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the sale, the senior vice president owned 52,344 shares of the company's stock, valued at $1,379,264.40. This trade represents a 35.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Holly Kriendler sold 19,007 shares of Oceaneering International stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $37.73, for a total transaction of $717,134.11. Following the completion of the sale, the senior vice president owned 30,500 shares of the company's stock, valued at $1,150,765. This represents a 38.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 140,844 shares of company stock worth $4,972,594. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OII. Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. Zacks Research lowered Oceaneering International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 5th. Barclays increased their price objective on Oceaneering International from $23.00 to $32.00 and gave the stock an "equal weight" rating in a report on Monday, February 23rd. Weiss Ratings raised Oceaneering International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Finally, TD Cowen boosted their target price on shares of Oceaneering International from $28.00 to $34.00 and gave the company a "hold" rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $33.67.

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.

Want to see what other hedge funds are holding OII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oceaneering International, Inc. (NYSE:OII - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.