Chesapeake Capital Corp IL Sells 10,256 Shares of Oceaneering International, Inc. (NYSE:OII)

Chesapeake Capital Corp IL trimmed its stake in Oceaneering International, Inc. (NYSE:OII) by 50.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,124 shares of the oil and gas company’s stock after selling 10,256 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Oceaneering International were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Oceaneering International by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,578,957 shares of the oil and gas company’s stock worth $294,348,000 after acquiring an additional 117,503 shares during the period. Earnest Partners LLC boosted its stake in shares of Oceaneering International by 9.3% during the 1st quarter. Earnest Partners LLC now owns 5,259,951 shares of the oil and gas company’s stock worth $123,083,000 after acquiring an additional 445,419 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Oceaneering International by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,662,198 shares of the oil and gas company’s stock worth $56,654,000 after acquiring an additional 34,181 shares during the period. Van ECK Associates Corp boosted its stake in shares of Oceaneering International by 0.5% during the 1st quarter. Van ECK Associates Corp now owns 2,076,502 shares of the oil and gas company’s stock worth $48,590,000 after acquiring an additional 10,575 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Oceaneering International by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 1,696,601 shares of the oil and gas company’s stock worth $36,104,000 after acquiring an additional 19,966 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on OII. Benchmark reiterated a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a research note on Thursday, July 25th. Barclays lifted their target price 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, Citigroup lifted their price target on Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd.

Oceaneering International Stock Performance

NYSE:OII opened at $22.41 on Wednesday. The stock has a market cap of $2.27 billion, a P/E ratio of 21.14 and a beta of 2.35. The stock has a 50 day simple moving average of $26.12 and a 200 day simple moving average of $23.89. The company has a current ratio of 1.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.73. Oceaneering International, Inc. has a 1-year low of $18.67 and a 1-year high of $30.45.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The firm had revenue of $668.81 million for the quarter, compared to analyst estimates of $656.87 million. Oceaneering International had a return on equity of 15.78% and a net margin of 4.87%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. Research analysts anticipate that Oceaneering International, Inc. will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, Director M Kevin Mcevoy sold 9,675 shares of Oceaneering International 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 of the company’s stock, valued at approximately $3,704,782.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Oceaneering International news, SVP Earl Childress sold 10,000 shares of Oceaneering International stock in a transaction on 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 directly owns 57,351 shares of the company’s stock, valued at approximately $1,473,920.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director M Kevin Mcevoy sold 9,675 shares of Oceaneering International stock in a transaction on Tuesday, August 20th. The shares were 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 of the company’s stock, valued at $3,704,782.44. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

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.