Keating Investment Counselors Inc. Decreases Stock Position in Oceaneering International, Inc. (NYSE:OII)

Keating Investment Counselors Inc. lessened its holdings in Oceaneering International, Inc. (NYSE:OII) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 394,013 shares of the oil and gas company’s stock after selling 31,810 shares during the period. Oceaneering International comprises 3.0% of Keating Investment Counselors Inc.’s holdings, making the stock its 4th biggest holding. Keating Investment Counselors Inc. owned approximately 0.39% of Oceaneering International worth $9,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Oceaneering International by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,662,198 shares of the oil and gas company’s stock valued at $56,654,000 after purchasing an additional 34,181 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Oceaneering International by 18.8% during the first quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company’s stock valued at $27,296,000 after purchasing an additional 184,300 shares in the last quarter. Hawk Ridge Capital Management LP acquired a new stake in shares of Oceaneering International during the fourth quarter valued at about $8,884,000. Empowered Funds LLC acquired a new stake in shares of Oceaneering International during the first quarter valued at about $2,131,000. Finally, Appian Way Asset Management LP acquired a new stake in shares of Oceaneering International during the fourth quarter valued at about $1,620,000. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup lifted their price target on Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Benchmark reissued a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research note on Thursday, July 25th. Finally, Barclays lifted their price objective on Oceaneering International from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st.

Insiders Place Their Bets

In other Oceaneering International news, SVP Earl Childress sold 10,000 shares of Oceaneering International stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total value of $257,000.00. Following the completion of the sale, the senior vice president now directly owns 57,351 shares in the company, valued at $1,473,920.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director M Kevin Mcevoy sold 9,675 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total transaction of $252,711.00. Following the completion of the sale, the director now owns 141,837 shares in the company, valued at $3,704,782.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Earl Childress sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the sale, the senior vice president now owns 57,351 shares of the company’s stock, valued at approximately $1,473,920.70. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Oceaneering International Price Performance

Oceaneering International stock opened at $23.60 on Friday. The stock’s 50 day moving average is $26.15 and its 200 day moving average is $23.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.72 and a quick ratio of 1.42. The firm has a market cap of $2.39 billion, a P/E ratio of 22.26 and a beta of 2.35. Oceaneering International, Inc. has a one year low of $18.67 and a one year high of $30.45.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $668.81 million during the quarter, compared to the consensus estimate of $656.87 million. Oceaneering International had a return on equity of 15.78% and a net margin of 4.87%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, research analysts expect that Oceaneering International, Inc. will post 1.42 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.