Beacon Harbor Wealth Advisors Inc. Purchases New Position in Oceaneering International, Inc. (NYSE:OII)

Beacon Harbor Wealth Advisors Inc. acquired a new position in Oceaneering International, Inc. (NYSE:OII - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 245,519 shares of the oil and gas company's stock, valued at approximately $6,106,000. Beacon Harbor Wealth Advisors Inc. owned approximately 0.24% of Oceaneering International as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Oceaneering International in the second quarter valued at about $38,000. Farther Finance Advisors LLC lifted its position in shares of Oceaneering International by 3,594.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,905 shares during the period. EntryPoint Capital LLC boosted its stake in shares of Oceaneering International by 105.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,192 shares of the oil and gas company's stock worth $51,000 after acquiring an additional 1,124 shares in the last quarter. CWM LLC grew its holdings in shares of Oceaneering International by 351.9% in the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company's stock worth $62,000 after acquiring an additional 2,034 shares during the period. Finally, GAMMA Investing LLC increased its stake in Oceaneering International by 108.3% in 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 in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on OII. Benchmark reissued a "buy" rating and issued a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. Barclays reduced their price target 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.

Oceaneering International Price Performance

Oceaneering International stock traded down $0.32 during midday trading on Friday, reaching $27.90. 650,222 shares of the company were exchanged, compared to its average volume of 832,475. The firm's 50-day simple moving average is $25.10 and its 200-day simple moving average is $24.66. Oceaneering International, Inc. has a 1 year low of $18.67 and a 1 year high of $30.45. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 21.14 and a beta of 2.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.08). The firm had revenue of $679.81 million for 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 business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. On average, analysts anticipate that Oceaneering International, Inc. will post 1.38 EPS for the current year.

Insiders Place Their Bets

In related 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Oceaneering International news, Director M Kevin Mcevoy sold 9,675 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total transaction of $252,711.00. Following the transaction, the director now owns 141,837 shares of the company's stock, valued at $3,704,782.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen H. Beachy sold 3,300 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the sale, the director now directly owns 28,229 shares of the company's stock, valued at $647,573.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company's stock.

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.