Oceaneering International (NYSE:OII) Stock Price Down 4.6% – Should You Sell?

Oceaneering International, Inc. (NYSE:OII) dropped 4.6% on Wednesday . The company traded as low as $28.96 and last traded at $29.03. Approximately 258,387 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 813,076 shares. The stock had previously closed at $30.42.

Analyst Ratings Changes

A number of analysts recently issued reports on OII shares. Benchmark reissued a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research report on Friday, October 25th. Barclays dropped their price objective on 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 Down 5.6 %

The business has a 50-day simple moving average of $26.56 and a 200-day simple moving average of $25.36. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The stock has a market cap of $2.90 billion, a P/E ratio of 23.05 and a beta of 2.39.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The business 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 quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. Analysts expect that Oceaneering International, Inc. will post 1.39 EPS for the current year.

Insider Activity

In other Oceaneering International 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 transaction of $75,702.00. Following the sale, the director now owns 28,229 shares in the company, valued at $647,573.26. The trade was a 10.47 % 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. 1.30% of the stock is owned by company insiders.

Institutional Trading of Oceaneering International

Several institutional investors have recently made changes to their positions in the business. Earnest Partners LLC boosted its holdings in Oceaneering International by 21.0% during the second 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 in the last quarter. State Street Corp boosted its stake in Oceaneering International by 2.1% in the 3rd quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock valued at $129,847,000 after buying an additional 107,394 shares in the last quarter. FMR LLC grew its position in Oceaneering International by 1.3% in the third quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock valued at $72,023,000 after acquiring an additional 36,593 shares during the period. Dimensional Fund Advisors LP raised its stake in Oceaneering International by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock worth $64,003,000 after acquiring an additional 43,941 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Oceaneering International by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,279,039 shares of the oil and gas company’s stock valued at $56,691,000 after acquiring an additional 26,328 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.