Oceaneering International (NYSE:OII) Shares Gap Down – Here’s What Happened

Oceaneering International, Inc. (NYSE:OII) shares gapped down prior to trading on Tuesday . The stock had previously closed at $25.74, but opened at $24.75. Oceaneering International shares last traded at $24.64, with a volume of 24,792 shares changing hands.

Analyst Upgrades and Downgrades

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

Oceaneering International Price Performance

The company has a market cap of $2.53 billion, a price-to-earnings ratio of 23.58 and a beta of 2.35. The company has a current ratio of 1.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average price is $25.60 and its 200 day moving average price is $24.54.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business 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 was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. Equities research analysts forecast that Oceaneering International, Inc. will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Oceaneering International

In other news, SVP Earl Childress sold 10,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Earl Childress sold 10,000 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 57,351 shares of the company’s stock, valued at $1,473,920.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karen H. Beachy sold 3,300 shares of the company’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 completion of the sale, the director now directly owns 28,229 shares in the company, 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. Insiders have sold a total of 22,975 shares of company stock valued at $585,413 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

Institutional investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Oceaneering International during the second quarter worth about $38,000. EntryPoint Capital LLC grew its position in shares of Oceaneering International by 105.2% during the first 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 during the last quarter. CWM LLC grew its position in Oceaneering International by 351.9% in the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 2,034 shares in the last quarter. GAMMA Investing LLC grew its position 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 buying an additional 1,412 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Oceaneering International in the 1st quarter valued at about $105,000. Institutional investors own 93.93% 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.