Oceaneering International's chief commercial officer, Earl Childress, sold 12,701 shares for about $593,000 on July 30, reducing his direct stake by 36%. The sale was executed in multiple trades at prices between $46.595 and $46.96, with a weighted average of $46.71 per share. The transaction came days after Oceaneering reported second-quarter revenue growth of 10% to $768 million and adjusted EBITDA of $115 million, its highest since 2015. Following the sale, Childress holds 22,876 shares valued at roughly $1.09 million based on the July 30 closing price of $47.64. The company raised full-year guidance on broad subsea and offshore strength, though softness in its Integrity Management and Digital Solutions unit, hurt by Middle East uncertainty, could weigh on overall performance.
Oceaneering International IncInsider sale by CCO, but company raised guidance on strong subsea/offshore demand; mixed signals.