Connable Office Inc. Decreases Holdings in Oceaneering International, Inc. (NYSE:OII)

Connable Office Inc. trimmed its stake in Oceaneering International, Inc. (NYSE:OII) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,578 shares of the oil and gas company’s stock after selling 673 shares during the quarter. Connable Office Inc.’s holdings in Oceaneering International were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in Oceaneering International in the first quarter worth $105,000. ProShare Advisors LLC raised its stake in Oceaneering International by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 20,270 shares of the oil and gas company’s stock valued at $474,000 after acquiring an additional 1,394 shares during the period. Bleakley Financial Group LLC lifted its holdings in Oceaneering International by 5.4% during the first quarter. Bleakley Financial Group LLC now owns 12,158 shares of the oil and gas company’s stock valued at $284,000 after purchasing an additional 628 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Oceaneering International by 20.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 709,764 shares of the oil and gas company’s stock worth $16,609,000 after purchasing an additional 122,400 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Oceaneering International by 30.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,439 shares of the oil and gas company’s stock worth $876,000 after purchasing an additional 8,740 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Price Performance

OII stock opened at $27.56 on Friday. The firm has a 50 day moving average of $25.33 and a 200-day moving average of $24.81. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $2.78 billion, a P/E ratio of 20.88 and a beta of 2.35. Oceaneering International, Inc. has a 12 month low of $18.67 and a 12 month high of $30.45.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The business had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. During the same quarter in the prior year, the company earned $0.38 earnings per share. Oceaneering International’s revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Oceaneering International, Inc. will post 1.39 earnings per share for the current fiscal year.

Insider Transactions at Oceaneering International

In other Oceaneering International 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 transaction of $75,702.00. Following the transaction, the director now directly owns 28,229 shares of the company’s stock, valued at approximately $647,573.26. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director M Kevin Mcevoy sold 9,675 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total transaction of $252,711.00. Following the completion of the sale, the director now directly owns 141,837 shares of the company’s stock, valued at $3,704,782.44. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OII shares. Benchmark restated a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research note on Friday, October 25th. Barclays dropped their target price on Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Thursday, October 31st.

Oceaneering International Company Profile

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.