Oceaneering International (NYSE:OII) Trading Down 3.2% – Here’s Why

Oceaneering International, Inc. (NYSE:OII)’s share price fell 3.2% during trading on Friday . The company traded as low as $24.20 and last traded at $24.25. 147,519 shares were traded during trading, a decline of 82% from the average session volume of 814,566 shares. The stock had previously closed at $25.04.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OII. Barclays increased their target price on Oceaneering International from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Benchmark reiterated a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a report on Thursday, July 25th. Finally, Citigroup boosted their target price on Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd.

Oceaneering International Price Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.72 and a quick ratio of 1.42. The stock’s fifty day moving average is $25.57 and its 200-day moving average is $24.54. The stock has a market cap of $2.45 billion, a PE ratio of 23.62 and a beta of 2.35.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $668.81 million during the quarter, compared to analyst estimates of $656.87 million. Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. As a group, equities analysts anticipate that Oceaneering International, Inc. will post 1.42 EPS for the current year.

Insiders Place Their Bets

In related news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the completion of the sale, the director now owns 28,229 shares in the company, valued at approximately $647,573.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total value of $75,702.00. Following the completion of the transaction, the director now directly owns 28,229 shares of the company’s stock, valued at $647,573.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director M Kevin Mcevoy sold 9,675 shares of Oceaneering International stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total value of $252,711.00. Following the completion of the transaction, the director now owns 141,837 shares of the company’s stock, valued at approximately $3,704,782.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,975 shares of company stock valued at $585,413 over the last 90 days. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Oceaneering International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Oceaneering International by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,578,957 shares of the oil and gas company’s stock worth $294,348,000 after buying an additional 117,503 shares in the last quarter. Earnest Partners LLC grew its position in shares of Oceaneering International by 21.0% during the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after buying an additional 1,105,263 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Oceaneering International by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock worth $64,003,000 after buying an additional 43,941 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Oceaneering International by 0.5% during the first quarter. Van ECK Associates Corp now owns 2,076,502 shares of the oil and gas company’s stock worth $48,590,000 after buying an additional 10,575 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Oceaneering International by 13.4% during the second quarter. American Century Companies Inc. now owns 2,022,378 shares of the oil and gas company’s stock worth $47,849,000 after buying an additional 239,701 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.