Corebridge Financial Inc. Sells 1,036 Shares of Oceaneering International, Inc. $OII

Corebridge Financial Inc. decreased its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,782 shares of the oil and gas company’s stock after selling 1,036 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Oceaneering International worth $1,151,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of OII. Tower Research Capital LLC TRC boosted its stake in shares of Oceaneering International by 191.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company’s stock valued at $85,000 after purchasing an additional 2,131 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Oceaneering International by 8.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 82,285 shares of the oil and gas company’s stock valued at $2,146,000 after purchasing an additional 6,582 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Oceaneering International by 19.4% during the 4th quarter. Northern Trust Corp now owns 1,230,886 shares of the oil and gas company’s stock valued at $32,102,000 after purchasing an additional 200,183 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Oceaneering International by 29.6% during the 4th quarter. Bank of America Corp DE now owns 529,028 shares of the oil and gas company’s stock valued at $13,797,000 after purchasing an additional 120,923 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Oceaneering International during the 4th quarter valued at about $8,490,000. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Up 4.2%

Shares of Oceaneering International stock opened at $24.68 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 2.00. The stock has a market capitalization of $2.47 billion, a PE ratio of 12.46 and a beta of 1.64. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $30.98. The company has a 50-day simple moving average of $22.24 and a two-hundred day simple moving average of $20.71.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07. The business had revenue of $698.16 million during the quarter, compared to analysts’ expectations of $676.81 million. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. On average, analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OII has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Oceaneering International from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.25.

Insider Transactions at Oceaneering International

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of Oceaneering International stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total value of $361,502.40. Following the completion of the transaction, the chief financial officer directly owned 155,259 shares of the company’s stock, valued at approximately $3,782,109.24. The trade was a 8.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% 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.