UBS Group AG Sells 33,425 Shares of Oceaneering International, Inc. $OII

Key Points

• UBS Group AG reduced its Oceaneering International stake by 6.8% in the fourth quarter, selling 33,425 shares and ending with 458,211 shares valued at about $11.0 million.
• Several company insiders also sold shares, including COO Benjamin Laura and SVP Holly Kriendler, with insiders selling 111,689 shares worth $4.2 million over the last 90 days.
• Oceaneering reported mixed quarterly results: EPS of $0.30 missed estimates, while revenue of $692.4 million beat expectations; analysts currently rate the stock a consensus Hold with a target price of $36.67.

UBS Group AG lessened its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 458,211 shares of the oil and gas company's stock after selling 33,425 shares during the quarter. UBS Group AG owned approximately 0.46% of Oceaneering International worth $11,011,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OII. Wilmington Savings Fund Society FSB bought a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 1,111 shares during the period. Quarry LP bought a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $30,000. SBI Securities Co. Ltd. raised its holdings in shares of Oceaneering International by 255.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 1,000 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of Oceaneering International by 47.5% in the 3rd quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company's stock worth $48,000 after purchasing an additional 629 shares during the period. Institutional investors own 93.93% of the company's stock.

Insider Buying and Selling at Oceaneering International

In related news, COO Benjamin Laura sold 33,176 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $37.51, for a total transaction of $1,244,431.76. Following the completion of the transaction, the chief operating officer directly owned 45,911 shares in the company, valued at $1,722,121.61. The trade was a 41.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Holly Kriendler sold 19,007 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $37.73, for a total value of $717,134.11. Following the transaction, the senior vice president owned 30,500 shares of the company's stock, valued at approximately $1,150,765. The trade was a 38.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 111,689 shares of company stock valued at $4,204,360 over the last 90 days. Insiders own 1.30% of the company's stock.

Oceaneering International Stock Down 2.4%

OII opened at $37.80 on Friday. The company has a fifty day moving average price of $36.35 and a 200-day moving average price of $30.60. The firm has a market capitalization of $3.77 billion, a P/E ratio of 11.22 and a beta of 1.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.08 and a quick ratio of 1.79. Oceaneering International, Inc. has a one year low of $18.45 and a one year high of $40.12.

Oceaneering International (NYSE:OII - Get Free Report) last issued 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 business had revenue of $692.43 million during the quarter, compared to analysts' expectations 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 last year, the business posted $0.43 EPS. Equities research analysts expect that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OII. Wall Street Zen cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, March 1st. Citigroup lifted their price objective 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. Weiss Ratings upgraded shares of Oceaneering International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. TD Cowen lifted their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. Finally, Zacks Research lowered shares of Oceaneering International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $36.67.

Oceaneering International 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.

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.