Leuthold Group LLC Makes New $3.55 Million Investment in Oceaneering International, Inc. $OII

Leuthold Group LLC acquired a new position in shares of Oceaneering International, Inc. (NYSE:OII) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 147,639 shares of the oil and gas company’s stock, valued at approximately $3,548,000.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Oceaneering International during the third quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position in 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 acquiring an additional 1,111 shares during the last quarter. Quarry LP acquired a new stake in Oceaneering International during the third quarter worth approximately $30,000. SBI Securities Co. Ltd. lifted its position in Oceaneering International by 255.1% during the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Oceaneering International by 47.5% during the third quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 629 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OII has been the subject of several research reports. Barclays raised their price objective 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. Wall Street Zen downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Zacks Research downgraded shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. TD Cowen lifted their price target 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. Finally, Weiss Ratings upgraded shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Oceaneering International presently has a consensus rating of “Hold” and an average target price of $36.67.

Oceaneering International Stock Down 2.4%

NYSE OII opened at $37.80 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44. Oceaneering International, Inc. has a 1-year low of $18.45 and a 1-year high of $40.12. The company has a 50 day moving average of $36.35 and a 200-day moving average of $30.60. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 11.22 and a beta of 1.17.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data 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). The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.43 earnings per share. On average, equities research analysts expect that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Karen H. Beachy sold 9,800 shares of Oceaneering International stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $37.41, for a total value of $366,618.00. Following the transaction, the director directly owned 22,816 shares of the company’s stock, valued at $853,546.56. This trade represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jennifer Fremont Simons sold 10,284 shares of Oceaneering International stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $38.96, for a total transaction of $400,664.64. Following the completion of the transaction, the senior vice president directly owned 35,387 shares in the company, valued at $1,378,677.52. This trade represents a 22.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 111,689 shares of company stock valued at $4,204,360 over the last three months. 1.30% of the stock is owned by corporate insiders.

Oceaneering International 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.