Oceaneering International (NYSE:OII) Director Sells $483,700.00 in Stock

Key Points

• Director Paul Murphy Jr. sold 10,000 Oceaneering International shares at an average price of $48.37, generating $483,700 and reducing his stake by 12.67% to 68,916 shares.
• OII shares rose 5.8% to $50.76, near the stock’s 12-month high of $53.98. The company has a $5.05 billion market capitalization and 93.93% institutional ownership.
• Analysts maintain a consensus “Hold” rating, with one Buy and four Hold recommendations and an average price target of $41, below the current share price.

Oceaneering International, Inc. (NYSE:OII - Get Free Report) Director Paul Murphy, Jr. sold 10,000 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $48.37, for a total transaction of $483,700.00. Following the completion of the transaction, the director directly owned 68,916 shares in the company, valued at $3,333,466.92. This represents a 12.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Oceaneering International Trading Up 5.8%

OII stock traded up $2.79 during mid-day trading on Monday, reaching $50.76. The company had a trading volume of 750,510 shares, compared to its average volume of 1,182,707. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The firm has a 50 day moving average of $41.86 and a 200 day moving average of $37.62. The company has a market capitalization of $5.05 billion, a PE ratio of 14.59 and a beta of 1.15. Oceaneering International, Inc. has a 12 month low of $21.03 and a 12 month high of $53.98.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Great Lakes Advisors LLC purchased a new position in shares of Oceaneering International in the second quarter worth about $445,000. BlackRock Inc. acquired a new position in Oceaneering International in the 2nd quarter worth approximately $664,659,000. Deutsche Bank AG acquired a new position in Oceaneering International in the 2nd quarter worth approximately $4,242,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Oceaneering International during the 2nd quarter worth approximately $2,889,000. Finally, Persistent Asset Partners Ltd purchased a new position in Oceaneering International during the 2nd quarter worth approximately $66,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OII has been the topic of several recent analyst reports. TD Cowen upped their target price on Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a research report on Thursday, April 30th. Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup increased their price objective on shares of Oceaneering International from $35.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, June 18th. Barclays lifted their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Oceaneering International from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $41.00.

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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