EP Wealth Advisors LLC Acquires Shares of 21,106 Oceaneering International, Inc. $OII

EP Wealth Advisors LLC bought a new position in shares of Oceaneering International, Inc. (NYSE:OII) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 21,106 shares of the oil and gas company’s stock, valued at approximately $855,000.

Several other hedge funds and other institutional investors also recently modified their holdings of OII. BlackRock Inc. acquired a new position in shares of Oceaneering International during the 2nd quarter worth $664,659,000. Morgan Stanley Institutional Investment Advisors LLC acquired a new position in Oceaneering International during the fourth quarter worth about $94,847,000. Reinhart Partners LLC. bought a new position in shares of Oceaneering International in the second quarter worth about $66,795,000. Balyasny Asset Management L.P. boosted its stake in shares of Oceaneering International by 916.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock valued at $28,219,000 after purchasing an additional 1,227,950 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Oceaneering International during the 2nd quarter valued at approximately $45,658,000. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OII shares. TD Cowen upped their price target on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Weiss Ratings lowered Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Citigroup upped their target price on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Barclays lifted their price target on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Finally, Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.00.

Insider Activity at Oceaneering International

In related news, Director Paul B. Murphy, Jr. sold 10,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $48.37, for a total value of $483,700.00. Following the completion of the sale, the director directly owned 68,916 shares of the company’s stock, valued at $3,333,466.92. The trade was a 12.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Earl Childress sold 12,701 shares of Oceaneering International stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $46.71, for a total value of $593,263.71. Following the transaction, the senior vice president owned 22,876 shares of the company’s stock, valued at $1,068,537.96. This trade represents a 35.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,901 shares of company stock valued at $1,277,904. 1.30% of the stock is currently owned by company insiders.

Oceaneering International Trading Up 0.0%

OII opened at $53.01 on Monday. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $44.53 and a 200-day moving average of $39.23. Oceaneering International, Inc. has a twelve month low of $22.02 and a twelve month high of $54.25. The stock has a market cap of $5.28 billion, a PE ratio of 15.23 and a beta of 1.15.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The company had revenue of $768.18 million for the quarter, compared to the consensus estimate of $735.69 million. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts predict that Oceaneering International, Inc. will post 2.1 EPS for the current year.

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.