SIR Capital Management L.P. Reduces Stock Holdings in Oceaneering International, Inc. $OII

SIR Capital Management L.P. lowered its position in Oceaneering International, Inc. (NYSE:OII) by 55.9% in the fourth quarter, HoldingsChannel reports. The firm owned 120,000 shares of the oil and gas company’s stock after selling 152,400 shares during the period. SIR Capital Management L.P.’s holdings in Oceaneering International were worth $2,884,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of OII. Lido Advisors LLC boosted its stake in Oceaneering International by 2.8% during the fourth quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company’s stock worth $299,000 after buying an additional 335 shares during the period. State of Alaska Department of Revenue boosted its stake in Oceaneering International by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 54,458 shares of the oil and gas company’s stock worth $1,307,000 after buying an additional 380 shares during the period. CSM Advisors LLC lifted its position in shares of Oceaneering International by 3.1% during the third quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock worth $359,000 after purchasing an additional 428 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Oceaneering International by 15.7% during the third quarter. Smartleaf Asset Management LLC now owns 3,464 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 469 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of Oceaneering International by 5.8% during the fourth quarter. State of Wyoming now owns 11,299 shares of the oil and gas company’s stock worth $272,000 after purchasing an additional 621 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Down 1.2%

Shares of Oceaneering International stock opened at $39.34 on Friday. Oceaneering International, Inc. has a 52-week low of $20.21 and a 52-week high of $40.21. The company has a 50 day moving average of $37.75 and a 200 day moving average of $32.74. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $3.92 billion, a P/E ratio of 11.67 and a beta of 1.16.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The firm had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts forecast that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oceaneering International 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 transaction of $191,350.00. Following the sale, the chief executive officer owned 397,279 shares of the company’s stock, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on OII. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. Barclays increased their price target on shares of Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Citigroup increased their price target on shares of Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Finally, Zacks Research cut shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.67.

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.