Connable Office Inc. Sells 673 Shares of Oceaneering International, Inc. (NYSE:OII)

Connable Office Inc. trimmed its holdings in Oceaneering International, Inc. (NYSE:OII) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,578 shares of the oil and gas company’s stock after selling 673 shares during the quarter. Connable Office Inc.’s holdings in Oceaneering International were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Entropy Technologies LP acquired a new position in Oceaneering International in the third quarter valued at approximately $239,000. Atria Investments Inc increased its stake in shares of Oceaneering International by 77.5% in the 3rd quarter. Atria Investments Inc now owns 19,358 shares of the oil and gas company’s stock valued at $481,000 after acquiring an additional 8,453 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of Oceaneering International during the 3rd quarter valued at $6,106,000. Principal Financial Group Inc. boosted its stake in Oceaneering International by 1.4% during the third quarter. Principal Financial Group Inc. now owns 510,880 shares of the oil and gas company’s stock worth $12,706,000 after acquiring an additional 7,037 shares in the last quarter. Finally, F M Investments LLC grew its holdings in Oceaneering International by 34.5% in the third quarter. F M Investments LLC now owns 299,808 shares of the oil and gas company’s stock worth $7,457,000 after purchasing an additional 76,917 shares during the period. Institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research note on Friday, October 25th.

Oceaneering International Stock Performance

OII opened at $27.56 on Friday. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 20.88 and a beta of 2.35. The company’s fifty day moving average price is $25.33 and its two-hundred day moving average price is $24.81. Oceaneering International, Inc. has a 1-year low of $18.67 and a 1-year high of $30.45. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.08). The business had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. Oceaneering International’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. On average, analysts expect that Oceaneering International, Inc. will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Karen H. Beachy sold 3,300 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the transaction, the director now directly owns 28,229 shares in the company, valued at approximately $647,573.26. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director M Kevin Mcevoy sold 9,675 shares of the company’s stock in a transaction dated 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 directly owns 141,837 shares of the company’s stock, valued at $3,704,782.44. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Oceaneering International 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.