Isthmus Partners LLC Cuts Stock Position in Oceaneering International, Inc. (NYSE:OII)

Isthmus Partners LLC reduced its position in Oceaneering International, Inc. (NYSE:OII) by 20.5% in the third quarter, Holdings Channel.com reports. The firm owned 88,291 shares of the oil and gas company’s stock after selling 22,834 shares during the quarter. Isthmus Partners LLC’s holdings in Oceaneering International were worth $2,196,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OII. Ashton Thomas Private Wealth LLC purchased a new position in shares of Oceaneering International in the 2nd quarter worth about $38,000. Farther Finance Advisors LLC boosted its holdings in shares of Oceaneering International by 3,594.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,905 shares in the last quarter. CWM LLC boosted its holdings in shares of Oceaneering International by 351.9% in the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,034 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Oceaneering International by 108.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 1,412 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Oceaneering International by 34.5% in the 3rd quarter. Central Pacific Bank Trust Division now owns 7,010 shares of the oil and gas company’s stock worth $174,000 after purchasing an additional 1,800 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the transaction, the director now owns 28,229 shares of the company’s stock, valued at $647,573.26. This represents a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OII shares. Benchmark restated a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. Barclays dropped their target price on Oceaneering International from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Thursday, October 31st.

Oceaneering International Trading Up 1.7 %

OII opened at $29.79 on Friday. The business has a 50 day simple moving average of $26.23 and a two-hundred day simple moving average of $25.16. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 22.57 and a beta of 2.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. Oceaneering International, Inc. has a one year low of $18.67 and a one year high of $30.65.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The business had revenue of $679.81 million for the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. Analysts predict that Oceaneering International, Inc. will post 1.39 EPS for the current year.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.