Vanguard Group Inc. Purchases 187,707 Shares of Oceaneering International, Inc. $OII

Key Points

• Vanguard Group added 187,707 shares (a 1.5% increase) and now owns 12,371,147 shares—about 12.40% of Oceaneering—worth roughly $297.3 million, with institutional investors holding ~93.93% of the stock.
• Analyst sentiment is mixed but tilts toward a Hold rating, with an average price target of $34.33; several firms raised targets (Citigroup to $35, TD Cowen to $36) while Weiss upgraded to a buy.
• Corporate insiders have been net sellers (111,689 shares worth $4.2M in the last 90 days; insider ownership 1.30%), and the company recently missed quarterly EPS ($0.30 vs. $0.35 est.) while beating revenue expectations at $692.4M.

Vanguard Group Inc. increased its position in Oceaneering International, Inc. (NYSE:OII - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,371,147 shares of the oil and gas company's stock after purchasing an additional 187,707 shares during the quarter. Vanguard Group Inc. owned approximately 12.40% of Oceaneering International worth $297,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OII. Balyasny Asset Management L.P. lifted its position in Oceaneering International by 916.6% in the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company's stock worth $28,219,000 after purchasing an additional 1,227,950 shares during the period. JPMorgan Chase & Co. lifted its position in Oceaneering International by 94.7% in the third quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company's stock worth $18,930,000 after purchasing an additional 371,586 shares during the period. Tudor Investment Corp ET AL lifted its position in Oceaneering International by 210.8% in the third quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company's stock worth $12,190,000 after purchasing an additional 333,666 shares during the period. Algert Global LLC lifted its position in Oceaneering International by 74.2% in the third quarter. Algert Global LLC now owns 649,747 shares of the oil and gas company's stock worth $16,101,000 after purchasing an additional 276,818 shares during the period. Finally, American Century Companies Inc. lifted its position in Oceaneering International by 8.1% in the third quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company's stock worth $90,270,000 after purchasing an additional 272,667 shares during the period. 93.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

OII has been the subject of several recent analyst reports. Citigroup increased their price objective on Oceaneering International from $25.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 10th. Zacks Research lowered Oceaneering International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a research note on Sunday, March 1st. Weiss Ratings upgraded Oceaneering International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. Finally, TD Cowen increased their price objective on Oceaneering International from $34.00 to $36.00 and gave the stock a "hold" rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $34.33.

Insider Buying and Selling

In other news, SVP Earl Childress sold 22,518 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total value of $842,398.38. Following the completion of the sale, the senior vice president directly owned 35,577 shares in the company, valued at approximately $1,330,935.57. This trade represents a 38.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Benjamin Laura sold 5,106 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $36.88, for a total value of $188,309.28. Following the completion of the sale, the chief operating officer owned 40,805 shares of the company's stock, valued at approximately $1,504,888.40. This trade represents a 11.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 111,689 shares of company stock valued at $4,204,360 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Oceaneering International Stock Performance

Shares of NYSE:OII opened at $36.59 on Friday. Oceaneering International, Inc. has a twelve month low of $18.45 and a twelve month high of $40.12. The firm has a market cap of $3.65 billion, a PE ratio of 10.86 and a beta of 1.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08. The business has a fifty day moving average of $36.14 and a 200-day moving average of $30.06.

Oceaneering International (NYSE:OII - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.05). Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The business had revenue of $692.43 million during the quarter, compared to analyst estimates of $671.35 million. During the same quarter last year, the business posted $0.43 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal 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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