Beacon Harbor Wealth Advisors Inc. Invests $6.11 Million in Oceaneering International, Inc. (NYSE:OII)

Beacon Harbor Wealth Advisors Inc. purchased a new stake in Oceaneering International, Inc. (NYSE:OII) in the third quarter, HoldingsChannel reports. The fund purchased 245,519 shares of the oil and gas company’s stock, valued at approximately $6,106,000.

A number of other institutional investors have also recently made changes to their positions in the business. Empowered Funds LLC purchased a new stake in Oceaneering International during the first quarter valued at approximately $2,131,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Oceaneering International by 20.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 709,764 shares of the oil and gas company’s stock valued at $16,609,000 after buying an additional 122,400 shares during the period. Janus Henderson Group PLC lifted its position in Oceaneering International by 46.6% in the first quarter. Janus Henderson Group PLC now owns 1,253,175 shares of the oil and gas company’s stock worth $29,323,000 after buying an additional 398,209 shares during the last quarter. Earnest Partners LLC lifted its position in Oceaneering International by 21.0% in the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after buying an additional 1,105,263 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Oceaneering International by 10.0% during the second quarter. Envestnet Asset Management Inc. now owns 266,885 shares of the oil and gas company’s stock worth $6,314,000 after buying an additional 24,283 shares during the period. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Performance

Shares of Oceaneering International stock opened at $28.22 on Friday. Oceaneering International, Inc. has a 52 week low of $18.67 and a 52 week high of $30.45. The company has a market capitalization of $2.85 billion, a PE ratio of 21.38 and a beta of 2.35. The stock’s fifty day moving average is $25.10 and its two-hundred day moving average is $24.66. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). The company had revenue of $679.81 million during the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. As a group, analysts expect that Oceaneering International, Inc. will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OII. Barclays lowered their target price on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Thursday, October 31st. Benchmark reissued a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research report on Friday, October 25th.

Insider Activity

In other Oceaneering International news, Director M Kevin Mcevoy sold 9,675 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total value of $252,711.00. Following the completion of the sale, the director now directly owns 141,837 shares in the company, valued at approximately $3,704,782.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of the company’s stock in a transaction 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 sale, the director now owns 28,229 shares in the company, valued at $647,573.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Kevin Mcevoy sold 9,675 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total value of $252,711.00. Following the sale, the director now directly owns 141,837 shares in the company, valued at $3,704,782.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Oceaneering International Company Profile

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.