Earnest Partners LLC Buys 1,105,263 Shares of Oceaneering International, Inc. (NYSE:OII)

Earnest Partners LLC grew its holdings in Oceaneering International, Inc. (NYSE:OII) by 21.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,365,214 shares of the oil and gas company’s stock after buying an additional 1,105,263 shares during the quarter. Earnest Partners LLC owned 6.28% of Oceaneering International worth $150,601,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OII. Isthmus Partners LLC raised its position in Oceaneering International by 0.9% in the second quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 968 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Oceaneering International during the second quarter worth approximately $38,000. Pineridge Advisors LLC acquired a new position in shares of Oceaneering International during the fourth quarter worth approximately $44,000. Neo Ivy Capital Management bought a new stake in shares of Oceaneering International during the fourth quarter valued at approximately $44,000. Finally, EntryPoint Capital LLC increased its holdings in shares of Oceaneering International by 105.2% in the first quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 1,124 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the sale, the director now directly owns 28,229 shares in the company, valued at $647,573.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Oceaneering International news, Director M Kevin Mcevoy sold 9,675 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total transaction of $252,711.00. Following the sale, the director now directly owns 141,837 shares of the company’s stock, valued at $3,704,782.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen H. Beachy sold 3,300 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the sale, the director now directly owns 28,229 shares in the company, valued at $647,573.26. The disclosure for this sale can be found here. Insiders have sold a total of 22,975 shares of company stock worth $585,413 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OII shares. Benchmark reiterated a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research report on Thursday, July 25th. Citigroup lifted their price objective on Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Barclays raised their target price on shares of Oceaneering International from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st.

Oceaneering International Stock Performance

Shares of Oceaneering International stock opened at $25.05 on Thursday. Oceaneering International, Inc. has a 12 month low of $18.67 and a 12 month high of $30.45. The company has a current ratio of 1.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $2.54 billion, a PE ratio of 23.63 and a beta of 2.35. The stock’s fifty day simple moving average is $26.10 and its 200 day simple moving average is $24.19.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). The business had revenue of $668.81 million during the quarter, compared to analyst estimates of $656.87 million. Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. Oceaneering International’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, research analysts predict that Oceaneering International, Inc. will post 1.42 EPS for the current year.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.