Manatuck Hill Partners LLC Invests $6.51 Million in Oceaneering International, Inc. $OII

Manatuck Hill Partners LLC bought a new position in shares of Oceaneering International, Inc. (NYSE:OII) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 160,600 shares of the oil and gas company’s stock, valued at approximately $6,508,000. Oceaneering International accounts for about 2.2% of Manatuck Hill Partners LLC’s investment portfolio, making the stock its 13th largest holding. Manatuck Hill Partners LLC owned approximately 0.16% of Oceaneering International at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Lido Advisors LLC boosted its position in shares of Oceaneering International by 2.8% in the 4th quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company’s stock valued at $299,000 after purchasing an additional 335 shares during the period. CSM Advisors LLC raised its holdings in Oceaneering International by 3.1% during the 3rd quarter. CSM Advisors LLC now owns 14,455 shares of the oil and gas company’s stock worth $359,000 after buying an additional 428 shares during the period. NewEdge Advisors LLC lifted its stake in Oceaneering International by 2.9% during the fourth quarter. NewEdge Advisors LLC now owns 19,560 shares of the oil and gas company’s stock valued at $470,000 after buying an additional 545 shares in the last quarter. State of Wyoming boosted its holdings in shares of Oceaneering International by 5.8% in the fourth quarter. State of Wyoming now owns 11,299 shares of the oil and gas company’s stock worth $272,000 after buying an additional 621 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Oceaneering International by 0.7% in the second quarter. California State Teachers Retirement System now owns 93,342 shares of the oil and gas company’s stock worth $1,934,000 after buying an additional 634 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Performance

Shares of OII stock opened at $50.08 on Wednesday. Oceaneering International, Inc. has a fifty-two week low of $22.02 and a fifty-two week high of $54.25. The stock’s 50-day moving average is $45.03 and its two-hundred day moving average is $39.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. The firm has a market cap of $4.98 billion, a P/E ratio of 14.39 and a beta of 1.15.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OII shares. Weiss Ratings lowered shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup lifted their price objective on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Barclays boosted their target price on shares of 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, TD Cowen increased their target price on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Oceaneering International presently has a consensus rating of “Hold” and a consensus target price of $45.00.

Insider Buying and Selling at Oceaneering International

In other news, SVP Christopher J. Dyer sold 1,200 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the transaction, the senior vice president owned 14,702 shares in the company, valued at $700,550.30. This represents a 7.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Earl Childress sold 12,701 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the transaction, the senior vice president owned 22,876 shares in the company, valued at $1,068,537.96. This represents a 35.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 26,901 shares of company stock valued at $1,277,904 over the last three months. 1.30% of the stock is owned by insiders.

Oceaneering International Company 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.