Oceaneering Posts Best EBITDA Since 2015 Amid Insider Share Sale
On July 30, Earl Childress, Oceaneering International's chief commercial officer (NYSE:OII), sold approximately $593,000 worth of shares in a direct stake reduction. The transaction involved the sale of 12,701 shares at an average price of $46.71 per share across multiple trades ranging from $46.595 to $46.96. This insider selling occurred shortly after Oceaneering reported its best adjusted EBITDA since 2015 in the second quarter, which reached $115 million amid a 10% revenue increase to $768 million. The company's CEO described it as a strong performance that exceeded guidance, with all business segments growing except for Integrity Management and Digital Solutions. The remaining stake of Childress is valued at around $1.09 million based on the July market close price of $47.64 per share, representing roughly 0.02% ownership in Oceaneering International.