South Dakota Investment Council Sells 16,800 Shares of Oceaneering International, Inc. $OII

South Dakota Investment Council decreased its holdings in Oceaneering International, Inc. (NYSE:OII) by 46.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,100 shares of the oil and gas company’s stock after selling 16,800 shares during the period. South Dakota Investment Council’s holdings in Oceaneering International were worth $677,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OII. Leuthold Group LLC purchased a new position in Oceaneering International in the 4th quarter worth approximately $3,548,000. Vanguard Group Inc. grew its holdings in Oceaneering International by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after buying an additional 187,707 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Oceaneering International during the 4th quarter valued at approximately $5,489,000. Fifth Third Bancorp raised its position in shares of Oceaneering International by 6,782.5% during the first quarter. Fifth Third Bancorp now owns 29,526 shares of the oil and gas company’s stock valued at $1,047,000 after buying an additional 29,097 shares during the last quarter. Finally, CenterBook Partners LP lifted its holdings in shares of Oceaneering International by 506.8% in the fourth quarter. CenterBook Partners LP now owns 100,220 shares of the oil and gas company’s stock worth $2,408,000 after buying an additional 83,705 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. TD Cowen raised their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, Citigroup lifted their target price on Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Oceaneering International currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Oceaneering International Stock Performance

Shares of NYSE:OII opened at $48.77 on Friday. The firm has a fifty day simple moving average of $40.83 and a two-hundred day simple moving average of $36.78. Oceaneering International, Inc. has a 52 week low of $20.79 and a 52 week high of $53.98. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $4.85 billion, a P/E ratio of 14.01 and a beta of 1.15.

Insider Activity at Oceaneering International

In related news, CEO Roderick A. Larson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the sale, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director M Kevin Mcevoy sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.92, for a total transaction of $143,760.00. Following the completion of the transaction, the director directly owned 134,133 shares of the company’s stock, valued at approximately $6,427,653.36. This represents a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,901 shares of company stock valued at $985,554 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

Oceaneering International Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.