Oceaneering International, Inc. (OII) Shares Sold by Profund Advisors LLC
Profund Advisors LLC lessened its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 30.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,302 shares of the oil and gas company’s stock after selling 7,137 shares during the period. Profund Advisors LLC’s holdings in Oceaneering International were worth $372,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. Stevens Capital Management LP purchased a new stake in Oceaneering International during the 2nd quarter worth approximately $1,260,000. Amalgamated Bank grew its position in Oceaneering International by 23.5% during the 2nd quarter. Amalgamated Bank now owns 19,164 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 3,642 shares during the last quarter. Nationwide Fund Advisors grew its position in Oceaneering International by 2.9% during the 2nd quarter. Nationwide Fund Advisors now owns 182,589 shares of the oil and gas company’s stock worth $4,170,000 after purchasing an additional 5,141 shares during the last quarter. HAP Trading LLC purchased a new stake in Oceaneering International during the 2nd quarter worth approximately $373,000. Finally, Seven Eight Capital LP purchased a new stake in Oceaneering International during the 2nd quarter worth approximately $304,000. 99.71% of the stock is currently owned by institutional investors.
In related news, Director Paul B. Murphy, Jr. sold 2,000 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the sale, the director now directly owns 16,600 shares of the company’s stock, valued at $437,244. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.91% of the stock is owned by company insiders.
Oceaneering International, Inc. (NYSE:OII) opened at 25.47 on Friday. The company has a 50 day moving average of $24.58 and a 200 day moving average of $24.92. The firm’s market capitalization is $2.50 billion. Oceaneering International, Inc. has a 1-year low of $20.74 and a 1-year high of $32.12.
Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The firm had revenue of $515.04 million during the quarter, compared to the consensus estimate of $481.86 million. During the same period last year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was down 17.7% on a year-over-year basis. Analysts forecast that Oceaneering International, Inc. will post ($0.04) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Wednesday, August 23rd. Oceaneering International’s dividend payout ratio is presently -206.90%.
OII has been the topic of several research analyst reports. Scotiabank set a $37.00 target price on shares of Oceaneering International and gave the stock a “buy” rating in a research report on Tuesday, June 13th. Jefferies Group LLC restated a “hold” rating and set a $25.00 price objective on shares of Oceaneering International in a research note on Monday, June 19th. Morgan Stanley cut shares of Oceaneering International from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $33.00 to $28.00 in a research note on Wednesday, June 21st. Seaport Global Securities cut shares of Oceaneering International from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $24.00 to $19.00 in a research note on Wednesday, June 21st. Finally, BidaskClub cut shares of Oceaneering International from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $28.90.
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Oceaneering International Company Profile
Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).
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