Former Oceaneering International Director Sells Shares Amid Strong Company Performance
Kevin McEvoy, former CEO and current director of Oceaneering International (NYSE:OII), sold 3,000 shares on July 30 for a total value of $143,760. The transaction was disclosed via an SEC Form 4 filing and executed at prices ranging from $47.92 to $47.95 per share. After the sale, McEvoy retained ownership of over 134,000 shares, representing approximately 0.1% of Oceaneering's stock. Oceaneering International reported trailing twelve-month revenue of $2.9 billion and net income of $350.1 million as of the latest reporting period. The company’s share price had appreciated by over 113% in the past year, reaching a market close value of $47.64 on July 30. Analysts suggest that McEvoy's sale appears to be part of routine portfolio diversification rather than an indication of pessimism about Oceaneering’s future performance. The company recently reported strong second-quarter results with revenue up 10% year-over-year and continued growth in its subsea robotics division.
Topics: corporate governance insider trading stock ownership