Shell Asset Management Co. Decreases Stock Position in Oceaneering International, Inc. (NYSE:OII)

Shell Asset Management Co. lowered its stake in Oceaneering International, Inc. (NYSE:OIIGet Rating) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,011 shares of the oil and gas company’s stock after selling 4,294 shares during the quarter. Shell Asset Management Co.’s holdings in Oceaneering International were worth $440,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Oceaneering International in the 4th quarter worth $27,000. Rockefeller Capital Management L.P. purchased a new stake in Oceaneering International in the 4th quarter worth $90,000. CIBC Asset Management Inc purchased a new stake in Oceaneering International in the 4th quarter worth $147,000. Wedge Capital Management L L P NC lifted its stake in Oceaneering International by 19.4% in the 1st quarter. Wedge Capital Management L L P NC now owns 13,048 shares of the oil and gas company’s stock worth $198,000 after purchasing an additional 2,124 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Oceaneering International by 30.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 17,000 shares of the oil and gas company’s stock worth $222,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 87.15% of the company’s stock.

Insiders Place Their Bets

In related news, Director Steven A. Webster bought 25,000 shares of the company’s stock in a transaction on Thursday, June 23rd. The shares were acquired at an average cost of $8.72 per share, for a total transaction of $218,000.00. Following the purchase, the director now directly owns 99,208 shares of the company’s stock, valued at $865,093.76. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.01% of the company’s stock.

Wall Street Analysts Forecast Growth

OII has been the topic of a number of research reports. StockNews.com downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Piper Sandler boosted their target price on shares of Oceaneering International from $22.50 to $25.00 and gave the stock an “overweight” rating in a report on Monday, April 18th. Barclays reduced their target price on shares of Oceaneering International from $18.00 to $15.00 and set a “maintains” rating on the stock in a report on Tuesday. Finally, Cowen set a $15.00 price target on shares of Oceaneering International in a report on Monday, June 20th.

Oceaneering International Stock Performance

Shares of NYSE:OII opened at $9.17 on Thursday. The company has a market capitalization of $919.33 million, a price-to-earnings ratio of -15.03 and a beta of 2.77. Oceaneering International, Inc. has a 12 month low of $8.56 and a 12 month high of $18.20. The firm’s 50-day moving average is $10.83 and its 200 day moving average is $12.86. The company has a current ratio of 2.43, a quick ratio of 2.11 and a debt-to-equity ratio of 1.47.

Oceaneering International (NYSE:OIIGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The oil and gas company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.07). The firm had revenue of $524.03 million for the quarter, compared to the consensus estimate of $521.02 million. Oceaneering International had a negative net margin of 3.24% and a positive return on equity of 0.91%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. Research analysts predict that Oceaneering International, Inc. will post 0.46 EPS for the current year.

Oceaneering International Company Profile

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Oceaneering International, Inc provides engineered services, products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. The company's Subsea Robotics segment provides remotely operated vehicles (ROVs) for drill support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair.

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Institutional Ownership by Quarter for Oceaneering International (NYSE:OII)

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