Brown Advisory Inc. Lowers Holdings in Oceaneering International, Inc. $OII

Brown Advisory Inc. trimmed its holdings in Oceaneering International, Inc. (NYSE:OII) by 3.6% in the 4th quarter, HoldingsChannel reports. The fund owned 7,426,981 shares of the oil and gas company’s stock after selling 275,282 shares during the quarter. Brown Advisory Inc. owned approximately 0.07% of Oceaneering International worth $178,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Commerce Bank purchased a new position in shares of Oceaneering International during the fourth quarter worth $209,000. Smartleaf Asset Management LLC boosted its position in shares of Oceaneering International by 46.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the oil and gas company’s stock worth $123,000 after buying an additional 1,614 shares during the period. Schroder Investment Management Group boosted its position in shares of Oceaneering International by 5.2% during the fourth quarter. Schroder Investment Management Group now owns 501,914 shares of the oil and gas company’s stock worth $12,202,000 after buying an additional 24,698 shares during the period. First Trust Advisors LP boosted its position in shares of Oceaneering International by 26.8% during the fourth quarter. First Trust Advisors LP now owns 562,486 shares of the oil and gas company’s stock worth $13,517,000 after buying an additional 118,909 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Oceaneering International by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,442,874 shares of the oil and gas company’s stock worth $34,672,000 after buying an additional 25,451 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Roderick A. Larson sold 5,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the sale, the chief executive officer directly owned 397,279 shares in the company, valued at approximately $15,203,867.33. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Oceaneering International Stock Down 1.2%

Shares of NYSE OII opened at $39.34 on Friday. The stock has a market cap of $3.92 billion, a P/E ratio of 11.67 and a beta of 1.16. The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44. Oceaneering International, Inc. has a 12-month low of $20.21 and a 12-month high of $40.21. The business’s fifty day simple moving average is $37.75 and its 200-day simple moving average is $32.74.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $692.43 million during the quarter, compared to analyst estimates of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. As a group, equities analysts predict that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Zacks Research lowered Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Citigroup raised their price target on Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Barclays raised their price target on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Finally, TD Cowen raised their price target on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $36.67.

About Oceaneering International

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.