Granite Investment Partners LLC Purchases 88,673 Shares of Oceaneering International, Inc. $OII

Granite Investment Partners LLC boosted its holdings in Oceaneering International, Inc. (NYSE:OII) by 37.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 327,053 shares of the oil and gas company’s stock after buying an additional 88,673 shares during the period. Granite Investment Partners LLC’s holdings in Oceaneering International were worth $11,601,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Oceaneering International by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after purchasing an additional 187,707 shares in the last quarter. State Street Corp increased its holdings in Oceaneering International by 4.9% in the 4th quarter. State Street Corp now owns 4,647,252 shares of the oil and gas company’s stock worth $111,673,000 after buying an additional 215,366 shares in the last quarter. Morgan Stanley Institutional Investment Advisors LLC bought a new stake in Oceaneering International in the 4th quarter worth about $94,847,000. Dimensional Fund Advisors LP raised its position in Oceaneering International by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,477,068 shares of the oil and gas company’s stock worth $83,556,000 after buying an additional 191,117 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Oceaneering International by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,304,738 shares of the oil and gas company’s stock worth $55,396,000 after buying an additional 51,871 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Oceaneering International

In related news, CEO Roderick A. Larson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the completion of the sale, the chief executive officer directly owned 397,279 shares in the company, valued at approximately $15,203,867.33. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Oceaneering International Trading Up 3.4%

Shares of NYSE:OII opened at $41.25 on Thursday. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 12.24 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08. The stock’s 50-day simple moving average is $38.21 and its two-hundred day simple moving average is $34.40. Oceaneering International, Inc. has a 52-week low of $20.21 and a 52-week high of $41.49.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The business had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $671.35 million. During the same period in the previous year, the company earned $0.43 EPS. Oceaneering International’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that Oceaneering International, Inc. will post 1.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OII shares. TD Cowen raised their price target on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Citigroup boosted their price objective on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Barclays increased their price objective on shares of Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.33.

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.