Insider Selling: Oceaneering International (NYSE:OII) CEO Sells $264,960.00 in Stock

Key Points

• CEO Roderick Larson sold 6,000 shares for $264,960 at an average price of $44.16, reducing his stake by 1.53%; he retained 385,279 shares.
• Oceaneering reported quarterly EPS of $0.50, below the $0.59 consensus estimate, while revenue of $784.55 million topped forecasts and rose 5.6% year over year.
• Analyst views were mixed, with a MarketBeat average rating of “Moderate Buy” and an average price target of $41.

Oceaneering International, Inc. (NYSE:OII - Get Free Report) CEO Roderick Larson sold 6,000 shares of Oceaneering International stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $44.16, for a total transaction of $264,960.00. Following the sale, the chief executive officer owned 385,279 shares of the company's stock, valued at $17,013,920.64. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Oceaneering International Stock Performance

Shares of OII traded down $0.04 during trading hours on Tuesday, reaching $38.20. 1,070,549 shares of the company traded hands, compared to its average volume of 1,114,222. The stock has a market capitalization of $3.80 billion, a P/E ratio of 11.61 and a beta of 1.30. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.40. Oceaneering International, Inc. has a 12-month low of $22.13 and a 12-month high of $54.25. The business has a fifty day moving average price of $45.88 and a 200-day moving average price of $40.29.

Oceaneering International (NYSE:OII - Get Free Report) last released its earnings results on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09). The firm had revenue of $784.55 million during the quarter, compared to analyst estimates of $775.93 million. Oceaneering International had a net margin of 11.37% and a return on equity of 16.87%. Oceaneering International's revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. Equities analysts anticipate that Oceaneering International, Inc. will post 2.10 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on OII shares. Zacks Research upgraded Oceaneering International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Weiss Ratings lowered Oceaneering International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. Barclays dropped their target price on Oceaneering International from $47.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Monday, October 26th. Citigroup cut their price target on shares of Oceaneering International from $52.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, October 29th. Finally, Wall Street Zen raised shares of Oceaneering International from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Oceaneering International has an average rating of "Moderate Buy" and an average price target of $41.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OII. BlackRock Inc. acquired a new position in shares of Oceaneering International during the 2nd quarter worth approximately $664,659,000. Morgan Stanley Institutional Investment Advisors LLC purchased a new position in shares of Oceaneering International during the 2nd quarter valued at approximately $124,235,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Oceaneering International in the 2nd quarter valued at $92,100,000. Reinhart Partners LLC. acquired a new stake in Oceaneering International in the 2nd quarter valued at $66,795,000. Finally, Bank of New York Mellon Corp purchased a new stake in Oceaneering International in the 2nd quarter worth $45,658,000. 93.93% of the stock is owned by institutional investors and hedge funds.

About Oceaneering International

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.

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.