23,700 Oceaneering International, Inc. $OII Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its holdings in Oceaneering International, Inc. (NYSE:OII) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,386 shares of the oil and gas company’s stock after selling 23,700 shares during the period. Hennessy Advisors Inc. owned about 0.24% of Oceaneering International worth $10,619,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of OII. BlackRock Inc. purchased a new position in Oceaneering International in the 2nd quarter worth about $664,659,000. Morgan Stanley Institutional Investment Advisors LLC purchased a new position in shares of Oceaneering International during the second quarter valued at approximately $124,235,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Oceaneering International during the second quarter valued at approximately $92,100,000. Reinhart Partners LLC. purchased a new stake in Oceaneering International during the second quarter valued at $66,795,000. Finally, Bank of New York Mellon Corp bought a new stake in Oceaneering International during the second quarter valued at approximately $45,658,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Wall Street Zen raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Barclays lowered their price objective on Oceaneering International from $47.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, October 26th. Citigroup dropped their target price on Oceaneering International from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Weiss Ratings lowered Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. 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 stock has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Oceaneering International Price Performance

OII stock opened at $40.92 on Monday. Oceaneering International, Inc. has a 12 month low of $22.13 and a 12 month high of $54.25. The company has a current ratio of 2.20, a quick ratio of 1.97 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $46.18 and a 200 day moving average price of $40.23. The stock has a market cap of $4.07 billion, a PE ratio of 12.44 and a beta of 1.30.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, October 21st. The oil and gas company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The firm had revenue of $784.55 million during the quarter, compared to analysts’ expectations of $775.93 million. Oceaneering International had a return on equity of 16.87% and a net margin of 11.37%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. Equities research analysts anticipate that Oceaneering International, Inc. will post 2.10 earnings per share for the current year.

Insider Activity at Oceaneering International

In other news, Director Paul Murphy, Jr. sold 10,000 shares of the company’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 transaction of $483,700.00. Following the transaction, the director owned 68,916 shares of the company’s stock, valued at approximately $3,333,466.92. This represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Roderick Larson sold 6,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $44.16, for a total value of $264,960.00. Following the completion of the sale, the chief executive officer owned 391,279 shares in the company, valued at approximately $17,278,880.64. The trade was a 1.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is owned by insiders.

Oceaneering International Company 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.