Isthmus Partners LLC Cuts Stock Holdings in Oceaneering International, Inc. (NYSE:OII)

Isthmus Partners LLC decreased its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 20.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,291 shares of the oil and gas company’s stock after selling 22,834 shares during the period. Isthmus Partners LLC owned about 0.09% of Oceaneering International worth $2,196,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of Oceaneering International during the second quarter valued at approximately $38,000. Farther Finance Advisors LLC boosted its position in Oceaneering International by 3,594.3% in the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,905 shares during the last quarter. CWM LLC boosted its position in Oceaneering International by 351.9% in the second quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,034 shares during the last quarter. GAMMA Investing LLC boosted its position in Oceaneering International by 108.3% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 1,412 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in Oceaneering International by 34.5% in the third quarter. Central Pacific Bank Trust Division now owns 7,010 shares of the oil and gas company’s stock worth $174,000 after purchasing an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on OII. Benchmark reissued a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research report on Friday, October 25th. Barclays cut their price objective 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 Stock Performance

Shares of OII opened at $29.79 on Friday. The firm has a market cap of $3.01 billion, a PE ratio of 22.57 and a beta of 2.35. The stock’s fifty day moving average price is $26.23 and its two-hundred day moving average price is $25.16. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. Oceaneering International, Inc. has a 1 year low of $18.67 and a 1 year high of $30.65.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Oceaneering International, Inc. will post 1.39 EPS for the current year.

Insider Activity at Oceaneering International

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the company’s 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 transaction, the director now directly owns 28,229 shares in the company, valued at $647,573.26. This represents a 10.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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.