Tower View Wealth Management LLC Makes New Investment in Oceaneering International, Inc. $OII

Tower View Wealth Management LLC bought a new stake in shares of Oceaneering International, Inc. (NYSE:OII) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 23,281 shares of the oil and gas company’s stock, valued at approximately $1,016,000.

A number of other institutional investors have also recently added to or reduced their stakes in OII. BlackRock Inc. purchased a new position in Oceaneering International in the second quarter valued at about $664,659,000. Morgan Stanley Institutional Investment Advisors LLC purchased a new stake in shares of Oceaneering International in the second quarter worth about $124,235,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Oceaneering International in the second quarter worth about $92,100,000. Reinhart Partners LLC. purchased a new stake in shares of Oceaneering International in the second quarter worth about $66,795,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Oceaneering International in the second quarter valued at about $45,658,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Up 0.1%

Shares of Oceaneering International stock opened at $39.32 on Monday. Oceaneering International, Inc. has a 1-year low of $22.13 and a 1-year high of $54.25. The company has a market capitalization of $3.91 billion, a PE ratio of 11.95 and a beta of 1.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.20 and a quick ratio of 1.97. The business has a 50-day moving average of $47.34 and a 200-day moving average of $43.02.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). The company had revenue of $784.55 million for the quarter, compared to analyst estimates of $775.93 million. Oceaneering International had a return on equity of 16.87% and a net margin of 11.37%. Oceaneering International’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. As a group, equities analysts forecast that Oceaneering International, Inc. will post 2.10 EPS for the current fiscal year.

Analyst Ratings Changes

OII has been the topic of several analyst reports. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Zacks Research upgraded Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Weiss Ratings downgraded shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Citigroup lifted their price objective on shares of Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Barclays lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Insider Activity

In related news, Director M. McEvoy sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $47.92, for a total transaction of $143,760.00. Following the transaction, the director owned 134,133 shares in the company, valued at $6,427,653.36. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul B. Murphy, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $48.37, for a total value of $483,700.00. Following the sale, the director directly owned 68,916 shares in the company, valued at approximately $3,333,466.92. The trade was a 12.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,901 shares of company stock worth $1,542,864 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Oceaneering International Profile

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.