Entropy Technologies LP Makes New $239,000 Investment in Oceaneering International, Inc. (NYSE:OII)

Entropy Technologies LP acquired a new stake in shares of Oceaneering International, Inc. (NYSE:OII) in the third quarter, Holdings Channel reports. The fund acquired 9,592 shares of the oil and gas company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Oceaneering International by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 12,578,957 shares of the oil and gas company’s stock valued at $294,348,000 after acquiring an additional 117,503 shares in the last quarter. Earnest Partners LLC raised its stake in 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 during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Oceaneering International by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock valued at $64,003,000 after purchasing an additional 43,941 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Oceaneering International by 13.4% in the second quarter. American Century Companies Inc. now owns 2,022,378 shares of the oil and gas company’s stock worth $47,849,000 after buying an additional 239,701 shares during the period. Finally, Congress Asset Management Co. purchased a new position in shares of Oceaneering International during the third quarter valued at $38,819,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Oceaneering International

In related news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International 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 sale, the director now owns 28,229 shares of the company’s stock, valued at approximately $647,573.26. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Kevin Mcevoy sold 9,675 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total transaction of $252,711.00. Following the completion of the sale, the director now owns 141,837 shares of the company’s stock, valued at $3,704,782.44. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Oceaneering International Price Performance

Shares of NYSE:OII opened at $26.81 on Friday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 20.31 and a beta of 2.35. Oceaneering International, Inc. has a 1 year low of $18.67 and a 1 year high of $30.45. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $25.40 and a 200 day simple moving average of $24.84.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The firm had revenue of $679.81 million for the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. As a group, sell-side analysts predict that Oceaneering International, Inc. will post 1.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on OII. Benchmark reissued a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research note on Friday, October 25th. Barclays reduced their price target on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Thursday, October 31st.

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.