Oceaneering International (NYSE:OII) Stock Price Down 3.2% - Time to Sell?

Oceaneering International, Inc. (NYSE:OII - Get Free Report)'s stock price dropped 3.2% during trading on Friday . The stock traded as low as $24.20 and last traded at $24.25. Approximately 147,519 shares changed hands during trading, a decline of 82% from the average daily volume of 814,566 shares. The stock had previously closed at $25.04.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup upped their target price on Oceaneering International from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, July 3rd. Barclays raised 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. Finally, Benchmark reaffirmed a "buy" rating and issued a $34.00 price objective on shares of Oceaneering International in a report on Thursday, July 25th.

Oceaneering International Stock Down 3.8 %

The stock has a market cap of $2.44 billion, a PE ratio of 22.73 and a beta of 2.35. The business has a 50 day moving average price of $25.53 and a 200 day moving average price of $24.55. The company has a quick ratio of 1.42, a current ratio of 1.72 and a debt-to-equity ratio of 0.73.

Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $668.81 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. Equities research analysts expect that Oceaneering International, Inc. will post 1.42 EPS for the current fiscal year.

Insider Buying and Selling at Oceaneering International

In related news, SVP Earl Childress sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now owns 57,351 shares of the company's stock, valued at approximately $1,473,920.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Karen H. Beachy sold 3,300 shares of the firm's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the transaction, the director now directly owns 28,229 shares of the company's stock, valued at approximately $647,573.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Earl Childress sold 10,000 shares of the 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 transaction, the senior vice president now directly owns 57,351 shares of the company's stock, valued at $1,473,920.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,975 shares of company stock valued at $585,413. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of Oceaneering International

Several large investors have recently made changes to their positions in the company. Hennessy Advisors Inc. raised its holdings in Oceaneering International by 18.8% in the 1st quarter. Hennessy Advisors Inc. now owns 1,166,500 shares of the oil and gas company's stock valued at $27,296,000 after acquiring an additional 184,300 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Oceaneering International in the 1st quarter worth $2,131,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of 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 worth $16,609,000 after acquiring an additional 122,400 shares during the period. Janus Henderson Group PLC boosted its position in shares of Oceaneering International by 46.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,253,175 shares of the oil and gas company's stock valued at $29,323,000 after acquiring an additional 398,209 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of 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 valued at $150,601,000 after purchasing an additional 1,105,263 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

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.