State of New Jersey Common Pension Fund D trimmed its position in Oceaneering International, Inc. (NYSE:OII – Free Report) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,632 shares of the oil and gas company’s stock after selling 6,917 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Oceaneering International worth $1,806,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in Oceaneering International during the second quarter valued at approximately $38,000. Farther Finance Advisors LLC raised its stake in shares of Oceaneering International by 3,594.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,905 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of Oceaneering International by 105.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 1,124 shares in the last quarter. CWM LLC increased its holdings in Oceaneering International by 351.9% in the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,034 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Oceaneering International by 108.3% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 1,412 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on OII. Benchmark reaffirmed a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research report on Friday, October 25th. Barclays lowered their price objective 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.
Oceaneering International Stock Up 2.4 %
Shares of NYSE OII opened at $27.46 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. Oceaneering International, Inc. has a 1 year low of $18.67 and a 1 year high of $30.45. The stock’s 50-day simple moving average is $25.48 and its 200-day simple moving average is $24.90. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 20.80 and a beta of 2.35.
Oceaneering International (NYSE:OII – Get Free Report) last posted its quarterly earnings data 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 business 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%. Oceaneering International’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, equities analysts anticipate that Oceaneering International, Inc. will post 1.39 earnings per share for the current fiscal year.
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 stock was 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 directly owns 28,229 shares of the company’s stock, valued at $647,573.26. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.
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.
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