Public Sector Pension Investment Board Grows Stock Holdings in Oceaneering International, Inc. (NYSE:OII)

Public Sector Pension Investment Board grew its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 223,107 shares of the oil and gas company’s stock after acquiring an additional 16,650 shares during the period. Public Sector Pension Investment Board’s holdings in Oceaneering International were worth $5,279,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new position in Oceaneering International during the 4th quarter valued at about $15,161,000. Isthmus Partners LLC increased its holdings in shares of Oceaneering International by 4.5% in the fourth quarter. Isthmus Partners LLC now owns 75,218 shares of the oil and gas company’s stock worth $1,601,000 after purchasing an additional 3,249 shares during the period. Boulder Hill Capital Management LP bought a new position in shares of Oceaneering International in the fourth quarter worth $543,000. Seven Eight Capital LP bought a new stake in Oceaneering International during the fourth quarter valued at $409,000. Finally, Appian Way Asset Management LP purchased a new position in Oceaneering International during the fourth quarter worth about $1,620,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Stock Down 4.0 %

OII 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 business’s 50-day moving average price is $26.10 and its 200-day moving average price is $24.19. The company has a market cap of $2.54 billion, a P/E ratio of 23.63 and a beta of 2.35.

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

Insiders Place Their Bets

In other Oceaneering International news, SVP Earl Childress sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total transaction of $257,000.00. Following the completion of the transaction, the senior vice president now owns 57,351 shares of the company’s stock, valued at approximately $1,473,920.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 28,229 shares in the company, valued at approximately $647,573.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Earl Childress sold 10,000 shares of Oceaneering International stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the sale, the senior vice president now directly owns 57,351 shares in the company, valued at approximately $1,473,920.70. The disclosure for this sale can be found here. Insiders have sold a total of 22,975 shares of company stock valued at $585,413 in the last quarter. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

OII has been the topic of several recent analyst reports. Citigroup raised their price target on Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Barclays increased their price target on shares of Oceaneering International from $21.00 to $24.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Finally, Benchmark reissued a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research note on Thursday, July 25th.

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.