Hennessy Advisors Inc. Buys Shares of 267,086 Oceaneering International, Inc. $OII

Hennessy Advisors Inc. bought a new position in Oceaneering International, Inc. (NYSE:OII) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 267,086 shares of the oil and gas company’s stock, valued at approximately $10,822,000.

Several other large investors have also made changes to their positions in OII. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Oceaneering International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock valued at $1,312,000 after acquiring an additional 2,633 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Oceaneering International by 1.9% during the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock valued at $2,634,000 after purchasing an additional 2,310 shares in the last quarter. Strs Ohio acquired a new stake in shares of Oceaneering International in the 1st quarter valued at $168,000. Norges Bank acquired a new position in Oceaneering International during the second quarter worth $1,485,000. Finally, Invesco Ltd. raised its holdings in Oceaneering International by 8.0% during the second quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock valued at $13,472,000 after buying an additional 48,382 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Down 1.2%

Shares of OII stock opened at $50.62 on Friday. Oceaneering International, Inc. has a 12 month low of $22.02 and a 12 month high of $54.25. 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 firm has a market cap of $5.04 billion, a PE ratio of 14.55 and a beta of 1.15. The stock has a 50 day moving average of $45.90 and a 200-day moving average of $39.84.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.46 by $0.17. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The firm had revenue of $768.18 million during the quarter, compared to analysts’ expectations of $735.69 million. During the same period in the prior year, the company earned $0.49 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts predict that Oceaneering International, Inc. will post 2.1 EPS for the current year.

Insider Buying and Selling at Oceaneering International

In other news, Director Paul B. Murphy, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $48.37, for a total value of $483,700.00. Following the sale, the director directly owned 68,916 shares in the company, valued at approximately $3,333,466.92. This represents a 12.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Christopher J. Dyer sold 1,200 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the completion of the transaction, the senior vice president directly owned 14,702 shares of the company’s stock, valued at approximately $700,550.30. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,901 shares of company stock worth $1,277,904 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on OII shares. Citigroup upped their price target on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Weiss Ratings lowered Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Barclays lifted their price target on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Oceaneering International has a consensus rating of “Hold” and an average target price of $45.00.

Oceaneering International Company 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.