Former Oceaneering CEO Sells Shares Amid Strong Company Performance
Director Kevin McEvoy sold 3,000 shares of Oceaneering International (OII) on July 30 for $143,760. The sale represents a small portion—about 2%—of his total holdings in the company and follows strong stock performance with an 113% return over the past year. McEvoy previously served as CEO of Oceaneering from 2015 to 2021 before joining its board. He still holds a significant stake, owning approximately 134,133 shares worth $6.39 million post-transaction. The company reported trailing twelve-month revenue of $2.9 billion and net income of $350.1 million. Oceaneering recently delivered strong financial results in its second quarter with a 10% increase in revenue to $768 million, driven by higher activity in subsea robotics operations and improved pricing for remotely operated vehicles (ROVs). The company also secured a U.S. defense contract for an extra-large uncrewed undersea vehicle.
