Royce & Associates LP Trims Position in Oceaneering International, Inc. (NYSE:OII)

Royce & Associates LP decreased its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 33.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,000 shares of the oil and gas company's stock after selling 28,000 shares during the period. Royce & Associates LP owned about 0.05% of Oceaneering International worth $1,368,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Congress Asset Management Co. purchased a new position in shares of Oceaneering International during the third quarter valued at approximately $38,819,000. Earnest Partners LLC raised its stake 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 worth $150,601,000 after buying an additional 1,105,263 shares during the period. Janus Henderson Group PLC boosted its position in shares of 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 purchasing an additional 398,209 shares during the period. Victory Capital Management Inc. boosted its position in shares of Oceaneering International by 101.6% in the second quarter. Victory Capital Management Inc. now owns 550,077 shares of the oil and gas company's stock worth $13,015,000 after purchasing an additional 277,247 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Oceaneering International during the 3rd quarter valued at $6,106,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Oceaneering International Trading Down 0.5 %

Shares of NYSE OII traded down $0.14 during trading hours on Wednesday, reaching $27.33. The stock had a trading volume of 87,637 shares, compared to its average volume of 816,731. Oceaneering International, Inc. has a 52-week low of $18.67 and a 52-week high of $30.45. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 20.81 and a beta of 2.35. The business's fifty day moving average price is $25.58 and its two-hundred day moving average price is $24.93. 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 - Get Free Report) last announced its 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). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm had revenue of $679.81 million during the quarter, compared to analyst estimates of $693.69 million. During the same quarter last year, the business earned $0.38 earnings per share. Oceaneering International's revenue was up 7.0% on a year-over-year basis. Analysts expect that Oceaneering International, Inc. will post 1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction that occurred 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by 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.