CenterBook Partners LP Acquires 83,705 Shares of Oceaneering International, Inc. $OII

CenterBook Partners LP boosted its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 506.8% during the fourth quarter, HoldingsChannel reports. The fund owned 100,220 shares of the oil and gas company’s stock after purchasing an additional 83,705 shares during the quarter. CenterBook Partners LP’s holdings in Oceaneering International were worth $2,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Oceaneering International during the third quarter worth $28,000. Quarry LP acquired a new stake in Oceaneering International in the third quarter valued at $30,000. SBI Securities Co. Ltd. raised its position in Oceaneering International by 255.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after buying an additional 1,111 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Oceaneering International by 47.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company’s stock worth $48,000 after buying an additional 629 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OII has been the subject of several recent research reports. TD Cowen increased their price target on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Citigroup upped their target price on Oceaneering International from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, March 10th. Zacks Research downgraded shares of Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Barclays boosted their price target 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. Finally, Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.67.

Oceaneering International Stock Performance

OII stock opened at $38.99 on Wednesday. The firm has a market cap of $3.89 billion, a PE ratio of 11.57 and a beta of 1.16. The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $37.47 and a 200-day moving average price of $32.47. Oceaneering International, Inc. has a 1-year low of $20.21 and a 1-year high of $40.12.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). The business had revenue of $692.43 million for 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 firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 EPS. As a group, equities research analysts expect that Oceaneering International, Inc. will post 1.89 earnings per share for the current year.

Insider Transactions at Oceaneering International

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the sale, the chief executive officer directly owned 397,279 shares in the company, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

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.