Wedge Capital Management L L P NC Has $1.38 Million Stake in Oceaneering International, Inc. (NYSE:OII)

Wedge Capital Management L L P NC trimmed its holdings in Oceaneering International, Inc. (NYSE:OII) by 16.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,458 shares of the oil and gas company’s stock after selling 11,227 shares during the period. Wedge Capital Management L L P NC’s holdings in Oceaneering International were worth $1,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OII. Vanguard Group Inc. grew its stake in Oceaneering International by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 12,461,454 shares of the oil and gas company’s stock valued at $265,180,000 after acquiring an additional 246,067 shares during the period. Hennessy Advisors Inc. grew its stake in Oceaneering International by 18.8% in the first quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company’s stock valued at $27,296,000 after acquiring an additional 184,300 shares during the period. SteelPeak Wealth LLC acquired a new position in Oceaneering International in the first quarter valued at about $516,000. Norden Group LLC acquired a new position in Oceaneering International in the first quarter valued at about $233,000. Finally, Van ECK Associates Corp grew its stake in Oceaneering International by 0.5% in the first quarter. Van ECK Associates Corp now owns 2,076,502 shares of the oil and gas company’s stock valued at $48,590,000 after acquiring an additional 10,575 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Oceaneering International Stock Up 1.0 %

OII stock opened at $25.00 on Thursday. The business has a 50-day moving average of $25.60 and a 200-day moving average of $24.54. Oceaneering International, Inc. has a fifty-two week low of $18.67 and a fifty-two week high of $30.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.72 and a quick ratio of 1.42. The stock has a market capitalization of $2.53 billion, a P/E ratio of 23.58 and a beta of 2.35.

Oceaneering International (NYSE:OII) last issued its quarterly 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 net margin of 4.87% and a return on equity of 15.78%. The company had revenue of $668.81 million for the quarter, compared to analyst estimates of $656.87 million. During the same period last year, the company posted $0.18 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Oceaneering International, Inc. will post 1.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

OII has been the subject of several recent research reports. Citigroup upped 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. Benchmark reaffirmed a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research report on Thursday, July 25th. Finally, Barclays upped their price objective on Oceaneering International from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st.

Insider Activity at Oceaneering International

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 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Karen H. Beachy sold 3,300 shares of the company’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 sale, the director now owns 28,229 shares in the company, valued at $647,573.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,975 shares of company stock valued at $585,413. Insiders own 2.30% of the company’s stock.

Oceaneering International Company 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.