Algert Global LLC Reduces Stake in Oceaneering International, Inc. (NYSE:OII)

Algert Global LLC cut its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 65.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,253 shares of the oil and gas company’s stock after selling 154,128 shares during the period. Algert Global LLC owned 0.08% of Oceaneering International worth $1,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OII. The Manufacturers Life Insurance Company boosted its holdings in Oceaneering International by 4.9% in the second quarter. The Manufacturers Life Insurance Company now owns 56,693 shares of the oil and gas company’s stock valued at $1,341,000 after acquiring an additional 2,657 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Oceaneering International by 21.0% during the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock valued at $150,601,000 after purchasing an additional 1,105,263 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Oceaneering International by 667.7% during the 2nd quarter. AQR Capital Management LLC now owns 137,911 shares of the oil and gas company’s stock valued at $3,263,000 after purchasing an additional 119,946 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Oceaneering International by 84.5% during the second quarter. Squarepoint Ops LLC now owns 197,579 shares of the oil and gas company’s stock valued at $4,675,000 after buying an additional 90,516 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new position in Oceaneering International in the second quarter worth about $526,000. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Oceaneering International Price Performance

OII stock opened at $25.64 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.42 and a current ratio of 1.72. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 24.19 and a beta of 2.35. The firm has a 50 day moving average price of $25.99 and a 200-day moving average price of $24.33. Oceaneering International, Inc. has a 52-week low of $18.67 and a 52-week high of $30.45.

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

Insider Buying and Selling

In other Oceaneering International news, SVP Earl Childress sold 10,000 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 57,351 shares in the company, valued at approximately $1,473,920.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Karen H. Beachy sold 3,300 shares of the business’s 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 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 SEC, which is available through this hyperlink. Also, SVP Earl Childress sold 10,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the sale, the senior vice president now owns 57,351 shares in the company, valued at $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 worth $585,413 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

Oceaneering International Profile

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.