Inspire Investing LLC Sells 1,361 Shares of Oceaneering International, Inc. (NYSE:OII)

Inspire Investing LLC lessened its stake in Oceaneering International, Inc. (NYSE:OII) by 7.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,112 shares of the oil and gas company’s stock after selling 1,361 shares during the period. Inspire Investing LLC’s holdings in Oceaneering International were worth $446,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in Oceaneering International by 3,594.3% during the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,905 shares during the period. Millburn Ridgefield Corp bought a new position in Oceaneering International during the third quarter worth about $57,000. GAMMA Investing LLC lifted its stake in Oceaneering International by 108.3% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 1,412 shares during the period. CWM LLC lifted its stake in Oceaneering International by 165.5% during the third quarter. CWM LLC now owns 6,935 shares of the oil and gas company’s stock worth $172,000 after purchasing an additional 4,323 shares during the period. Finally, Central Pacific Bank Trust Division lifted its stake in Oceaneering International by 34.5% during the third quarter. Central Pacific Bank Trust Division now owns 7,010 shares of the oil and gas company’s stock worth $174,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OII shares. Citigroup cut shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research note on Friday, January 10th. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $22.00 to $26.00 in a research note on Wednesday, December 18th. TD Cowen raised their price target on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Pickering Energy Partners cut shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 14th. Finally, Benchmark reiterated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Oceaneering International currently has an average rating of “Hold” and an average target price of $29.25.

Oceaneering International Stock Performance

OII stock opened at $26.42 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. The company has a 50 day moving average price of $27.03 and a 200 day moving average price of $26.29. Oceaneering International, Inc. has a fifty-two week low of $19.68 and a fifty-two week high of $30.98. The stock has a market capitalization of $2.67 billion, a PE ratio of 20.01 and a beta of 2.41.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 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 the consensus estimate 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 in the previous year, the firm posted $0.38 EPS. Analysts forecast that Oceaneering International, Inc. will post 1.37 EPS for the current year.

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.