Morgan Stanley Institutional Investment Advisors LLC Purchases New Position in Oceaneering International, Inc. $OII

Morgan Stanley Institutional Investment Advisors LLC purchased a new position in Oceaneering International, Inc. (NYSE:OII) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,066,015 shares of the oil and gas company’s stock, valued at approximately $124,235,000. Oceaneering International makes up 11.6% of Morgan Stanley Institutional Investment Advisors LLC’s portfolio, making the stock its 4th largest position. Morgan Stanley Institutional Investment Advisors LLC owned approximately 3.08% of Oceaneering International as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in OII. Wilmington Savings Fund Society FSB purchased a new stake in Oceaneering International during the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 1,111 shares during the period. Quarry LP purchased a new position in shares of Oceaneering International in the 3rd quarter worth approximately $30,000. Allworth Financial LP bought a new position in shares of Oceaneering International during the 2nd quarter valued at approximately $42,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Oceaneering International during the 1st quarter valued at $53,000. 93.93% of the stock is owned by institutional investors.

Oceaneering International Price Performance

OII opened at $53.01 on Monday. The business has a fifty day moving average of $44.53 and a 200 day moving average of $39.23. The stock has a market cap of $5.28 billion, a P/E ratio of 15.23 and a beta of 1.15. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. Oceaneering International, Inc. has a 52-week low of $22.02 and a 52-week high of $54.25.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.17. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The business had revenue of $768.18 million for the quarter, compared to analyst estimates of $735.69 million. During the same quarter last year, the firm posted $0.49 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Oceaneering International, Inc. will post 2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Barclays increased their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Weiss Ratings lowered shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. TD Cowen upped their price target on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Finally, Citigroup increased their price objective on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Oceaneering International presently has an average rating of “Hold” and a consensus price target of $45.00.

Insider Activity at Oceaneering International

In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 10,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $48.37, for a total value of $483,700.00. Following the completion of the sale, the director directly owned 68,916 shares of the company’s stock, valued at $3,333,466.92. The trade was a 12.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Kevin Mcevoy sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.92, for a total transaction of $143,760.00. Following the completion of the sale, the director directly owned 134,133 shares of the company’s stock, valued at approximately $6,427,653.36. This trade represents a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 26,901 shares of company stock valued at $1,277,904. Company insiders own 1.30% of the company’s stock.

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.