Oceaneering International (NYSE:OII) CEO Roderick Larson Sells 6,000 Shares of Stock

Key Points

• CEO Roderick Larson sold 6,000 Oceaneering International shares at an average price of $44.16, generating $264,960 and reducing his ownership by 1.51% to 391,279 shares.
• Oceaneering shares rose 3.1% to $45.70, while the company reported quarterly earnings of $0.63 per share and revenue of $768.18 million, exceeding analyst expectations.
• Analysts maintain an overall “Hold” rating, with an average price target of $45.00; institutional investors and hedge funds own 93.93% of the stock.

Oceaneering International, Inc. (NYSE:OII - Get Free Report) CEO Roderick Larson sold 6,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $44.16, for a total value of $264,960.00. Following the transaction, the chief executive officer owned 391,279 shares of the company's stock, valued at approximately $17,278,880.64. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Oceaneering International Trading Up 3.1%

OII traded up $1.38 on Monday, hitting $45.70. The company had a trading volume of 823,810 shares, compared to its average volume of 1,122,882. The company's fifty day moving average price is $49.18 and its 200 day moving average price is $42.18. Oceaneering International, Inc. has a 1 year low of $22.02 and a 1 year high of $54.25. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.55 billion, a P/E ratio of 13.13 and a beta of 1.25.

Oceaneering International (NYSE:OII - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.17. The company had revenue of $768.18 million during the quarter, compared to analyst estimates of $735.69 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. Oceaneering International's revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. As a group, equities analysts expect that Oceaneering International, Inc. will post 2.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup boosted their target price on Oceaneering International from $40.00 to $52.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Barclays lifted their price objective on Oceaneering International from $39.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. Finally, Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $45.00.

Institutional Trading of Oceaneering International

Several hedge funds have recently modified their holdings of OII. Integrated Wealth Concepts LLC acquired a new position in Oceaneering International during the 2nd quarter worth $35,000. Allworth Financial LP purchased a new position in shares of Oceaneering International in the 2nd quarter valued at about $42,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Oceaneering International during the first quarter worth about $53,000. Public Employees Retirement System of Ohio acquired a new position in shares of Oceaneering International during the second quarter worth about $54,000. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Oceaneering International during the second quarter worth approximately $66,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

About Oceaneering International

Oceaneering International, Inc is a Houston-based technology and engineering company that provides products and services for subsea, offshore, aerospace and defense, and other industrial markets. Founded in 1969, the company is best known for its work in challenging underwater environments and serves customers involved in energy production, infrastructure, government programs, and industrial operations.

Oceaneering's subsea businesses provide remotely operated vehicles, autonomous underwater technologies, subsea equipment, tooling, umbilicals, connectors, and intervention systems.

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