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

Algert Global LLC raised its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 23.1% in the 3rd quarter, Holdings Channel reports. The firm owned 100,013 shares of the oil and gas company’s stock after purchasing an additional 18,760 shares during the quarter. Algert Global LLC’s holdings in Oceaneering International were worth $2,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Oceaneering International during the second quarter valued at about $38,000. Farther Finance Advisors LLC boosted its stake in shares of Oceaneering International by 3,594.3% in the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,905 shares during the last quarter. CWM LLC boosted its holdings in Oceaneering International by 351.9% during the second quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after buying an additional 2,034 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Oceaneering International by 108.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 1,412 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in Oceaneering International by 34.5% in the third quarter. Central Pacific Bank Trust Division now owns 7,010 shares of the oil and gas company’s stock valued at $174,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 93.93% of the company’s stock.

Insider Activity at Oceaneering International

In related news, Director Karen H. Beachy sold 3,300 shares of the business’s stock in a transaction dated 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 trade was a 10.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on OII. Benchmark reiterated a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th. Barclays decreased their target price on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, October 31st.

Oceaneering International Stock Performance

Shares of OII opened at $29.30 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. Oceaneering International, Inc. has a 52-week low of $18.67 and a 52-week high of $30.65. The stock has a 50 day moving average price of $26.06 and a 200 day moving average price of $25.09. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 22.19 and a beta of 2.35.

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