Renaissance Technologies LLC Increases Holdings in Oceaneering International, Inc. $OII

Renaissance Technologies LLC lifted its holdings in Oceaneering International, Inc. (NYSE:OII) by 202.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,000 shares of the oil and gas company’s stock after acquiring an additional 56,900 shares during the period. Renaissance Technologies LLC owned 0.09% of Oceaneering International worth $3,015,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OII. Sei Investments Co. boosted its stake in Oceaneering International by 5.2% in the 1st quarter. Sei Investments Co. now owns 440,691 shares of the oil and gas company’s stock worth $15,631,000 after purchasing an additional 21,905 shares during the period. Lido Advisors LLC raised its position in shares of Oceaneering International by 13.1% during the first quarter. Lido Advisors LLC now owns 13,738 shares of the oil and gas company’s stock valued at $487,000 after buying an additional 1,596 shares during the last quarter. State of Wyoming raised its position in shares of Oceaneering International by 33.6% during the first quarter. State of Wyoming now owns 15,099 shares of the oil and gas company’s stock valued at $536,000 after buying an additional 3,800 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Oceaneering International in the first quarter worth $226,000. Finally, Amova Asset Management Americas Inc. boosted its position in shares of Oceaneering International by 3.4% during the first quarter. Amova Asset Management Americas Inc. now owns 27,018 shares of the oil and gas company’s stock worth $959,000 after acquiring an additional 885 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday. TD Cowen boosted their price target on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Barclays increased their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.00.

Insider Buying and Selling at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the sale, the chief executive officer directly owned 397,279 shares in the company, valued at approximately $15,203,867.33. This represents a 1.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Earl Childress sold 12,701 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the completion of the transaction, the senior vice president directly owned 22,876 shares of the company’s stock, valued at approximately $1,068,537.96. The trade was a 35.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,901 shares of company stock worth $985,554 over the last three months. 1.30% of the stock is owned by company insiders.

Oceaneering International Trading Down 2.5%

OII stock opened at $48.00 on Friday. The firm has a fifty day moving average price of $41.86 and a 200 day moving average price of $37.55. Oceaneering International, Inc. has a fifty-two week low of $21.03 and a fifty-two week high of $53.98. The firm has a market cap of $4.78 billion, a PE ratio of 13.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18.

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.