Los Angeles Capital Management LLC Decreases Position in Oceaneering International, Inc. (NYSE:OII)

Los Angeles Capital Management LLC lowered its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,818 shares of the oil and gas company’s stock after selling 1,550 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Oceaneering International were worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wedge Capital Management L L P NC increased its holdings in Oceaneering International by 0.7% in the second quarter. Wedge Capital Management L L P NC now owns 66,685 shares of the oil and gas company’s stock valued at $1,578,000 after buying an additional 450 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Oceaneering International by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 28,222 shares of the oil and gas company’s stock valued at $668,000 after acquiring an additional 540 shares during the last quarter. Bleakley Financial Group LLC raised its position in shares of Oceaneering International by 5.4% during the 1st quarter. Bleakley Financial Group LLC now owns 12,158 shares of the oil and gas company’s stock worth $284,000 after acquiring an additional 628 shares in the last quarter. Shell Asset Management Co. lifted its stake in Oceaneering International by 5.2% during the first quarter. Shell Asset Management Co. now owns 15,086 shares of the oil and gas company’s stock worth $353,000 after purchasing an additional 749 shares during the last quarter. Finally, Isthmus Partners LLC lifted its stake in Oceaneering International by 0.9% during the second quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 968 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director M Kevin Mcevoy sold 9,675 shares of Oceaneering International stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total value of $252,711.00. Following the transaction, the director now directly owns 141,837 shares in the company, valued at $3,704,782.44. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karen H. Beachy sold 3,300 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Oceaneering International Price Performance

OII stock opened at $27.56 on Friday. 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 company has a market capitalization of $2.78 billion, a P/E ratio of 20.88 and a beta of 2.35. The business has a 50 day simple moving average of $25.33 and a 200-day simple moving average of $24.81. Oceaneering International, Inc. has a twelve month low of $18.67 and a twelve month high of $30.45.

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 for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The business had revenue of $679.81 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.38 EPS. As a group, equities analysts anticipate that Oceaneering International, Inc. will post 1.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OII shares. Barclays cut their price objective 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. Benchmark reissued a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th.

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.