Public Sector Pension Investment Board Sells 7,800 Shares of Oceaneering International, Inc. (NYSE:OII)

Public Sector Pension Investment Board reduced its position in Oceaneering International, Inc. (NYSE:OII) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,307 shares of the oil and gas company’s stock after selling 7,800 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of Oceaneering International worth $5,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Oceaneering International during the 2nd quarter valued at approximately $38,000. Farther Finance Advisors LLC boosted its holdings in shares of Oceaneering International by 3,594.3% in the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,905 shares during the period. CWM LLC grew its position in shares of Oceaneering International by 351.9% in the second quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 2,034 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Oceaneering International by 108.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 1,412 shares during the period. Finally, Central Pacific Bank Trust Division lifted its holdings in Oceaneering International by 34.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 7,010 shares of the oil and gas company’s stock worth $174,000 after purchasing an additional 1,800 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Oceaneering International Stock Performance

Shares of OII opened at $29.98 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $26.39 and a 200-day moving average price of $25.25. The company has a market cap of $3.03 billion, a PE ratio of 22.71 and a beta of 2.35. Oceaneering International, Inc. has a 12-month low of $18.67 and a 12-month high of $30.65.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08). The company had revenue of $679.81 million for 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%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, equities analysts forecast that Oceaneering International, Inc. will post 1.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction dated 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 of the company’s stock, valued at $647,573.26. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

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.