EFG International AG Invests $3.73 Million in Oceaneering International, Inc. $OII

EFG International AG bought a new stake in Oceaneering International, Inc. (NYSE:OII) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 91,994 shares of the oil and gas company’s stock, valued at approximately $3,726,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OII. Allworth Financial LP purchased a new stake in Oceaneering International during the 2nd quarter worth $42,000. Wilmington Savings Fund Society FSB purchased a new position in Oceaneering International in the third quarter valued at about $28,000. Quarry LP acquired a new position in shares of Oceaneering International during the third quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of Oceaneering International by 335.6% during the second 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 in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Oceaneering International in the first quarter worth about $53,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Oceaneering International Stock Performance

NYSE:OII opened at $49.43 on Thursday. The firm has a 50-day moving average of $45.31 and a two-hundred day moving average of $39.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The stock has a market cap of $4.92 billion, a P/E ratio of 14.20 and a beta of 1.15. Oceaneering International, Inc. has a 1-year low of $22.02 and a 1-year high of $54.25.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) 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 period in the previous year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts expect that Oceaneering International, Inc. will post 2.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Oceaneering International 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 transaction, the director directly owned 68,916 shares of the company’s stock, valued at $3,333,466.92. This represents a 12.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Christopher J. Dyer sold 1,200 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total value of $57,180.00. Following the transaction, the senior vice president owned 14,702 shares of the company’s stock, valued at approximately $700,550.30. This trade represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,901 shares of company stock worth $1,277,904 in the last quarter. Company insiders own 1.30% of the company’s stock.

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.