Gamco Investors INC. ET AL Cuts Stock Holdings in Oceaneering International, Inc. $OII

Gamco Investors INC. ET AL lessened its holdings in Oceaneering International, Inc. (NYSE:OII) by 12.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 306,440 shares of the oil and gas company’s stock after selling 44,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Oceaneering International were worth $7,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 worth $1,312,000 after buying an additional 2,633 shares in the last quarter. Empowered Funds LLC boosted its position in 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 acquiring an additional 2,310 shares in the last quarter. Strs Ohio bought a new stake in Oceaneering International during the 1st quarter valued at $168,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Oceaneering International by 31.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 87,004 shares of the oil and gas company’s stock valued at $1,803,000 after acquiring an additional 20,815 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Oceaneering International in the 2nd quarter worth $415,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Stock Down 0.8%

Oceaneering International stock opened at $34.18 on Monday. Oceaneering International, Inc. has a 1-year low of $15.46 and a 1-year high of $39.00. The business has a fifty day moving average price of $30.61 and a 200-day moving average price of $26.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.72. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 9.77 and a beta of 1.18.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The company had revenue of $668.57 million for the quarter, compared to analyst estimates of $678.16 million. During the same period in the prior year, the company posted $0.37 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Insider Transactions at Oceaneering International

In other Oceaneering International news, SVP Holly Kriendler sold 19,007 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $37.73, for a total transaction of $717,134.11. Following the completion of the transaction, the senior vice president directly owned 30,500 shares of the company’s stock, valued at approximately $1,150,765. This trade represents a 38.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jennifer Fremont Simons sold 29,155 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $26.35, for a total transaction of $768,234.25. Following the transaction, the senior vice president directly owned 52,344 shares of the company’s stock, valued at approximately $1,379,264.40. This trade represents a 35.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 140,844 shares of company stock worth $4,972,594 over the last 90 days. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

OII has been the subject of a number of analyst reports. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. Barclays lifted their target price on Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. TD Cowen increased their price target on shares of Oceaneering International from $28.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Finally, Zacks Research downgraded shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.33.

About Oceaneering International

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.