Who Owns Oceaneering Company?

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Who Owns Oceaneering International, Inc.?

Understanding Oceaneering International, Inc.'s ownership is key to its strategy and accountability. Its public listing in December 1991 broadened ownership from its private beginnings, impacting governance and capital access.

Founded in 1964, Oceaneering evolved from diving operations to a global technology provider for the offshore energy sector, aiming to 'solve the unsolvable' in harsh environments.

Who holds the reins at Oceaneering International, Inc.?

As of early 2025, Oceaneering reported strong financial results. The first quarter of 2025 saw revenues of $675 million, a 13% year-over-year increase, and net income reached $50.4 million, a significant 233% jump. This performance highlights the company's market position and operational effectiveness, influencing its ownership dynamics. Analyzing its ownership involves examining founding stakes, institutional investors, and public shareholders, revealing the forces shaping this technology leader. The company's diverse service offerings, including its Oceaneering BCG Matrix analysis, are supported by its ownership structure.

Oceaneering International, Inc. traces its roots back to 1964 with the establishment of World Wide Divers, Inc. in the Gulf of Mexico. This foundational diving business was co-founded by Mike Hughes and Johnny Johnson. The company as it is known today was formed in 1969 through a significant merger.

Origins in Gulf of Mexico Diving

The company's journey began as World Wide Divers, Inc., a diving operation focused on the Gulf of Mexico. This early venture laid the groundwork for future expansion and specialization in subsea services.

Formation of Oceaneering International

In 1969, a pivotal merger occurred, combining World Wide Divers, Inc. with California Divers, Inc. and Can-Dive Services Ltd. This consolidation led to the creation of Oceaneering International, Inc., expanding its operational reach and capabilities.

Key Founding Figures

Founding members of the merged entities included Mike Hughes and Johnny Johnson from World Wide Divers, Inc. Lad Handelman, Gene Handelman, Kevin Lengyel, and Bob Ratcliffe were associated with California Divers, Inc., while Phil Nuytten and partners were part of Can-Dive Services Ltd.

Early Operations and Focus

Initially, the company's operations were concentrated on essential tasks such as inspecting oil rig legs in the Gulf of Mexico. This early focus established its presence in the offshore energy sector.

Johnny Johnson's Legacy

Johnny Johnson, a co-founder of World Wide Divers, Inc., played a significant role throughout his career. He retired in 2004 after contributing as a diver and later advancing to a senior vice president position.

Early Ownership Details

Specific details regarding the initial equity split or shareholding percentages among the founders and early investors are not widely documented in available records.

The early days of Oceaneering International, Inc. were characterized by a hands-on approach to subsea services, primarily focusing on the critical task of inspecting oil rig legs in the Gulf of Mexico. This foundational work in a demanding environment helped shape the company's expertise and reputation. Understanding the Revenue Streams & Business Model of Oceaneering provides further context to its operational evolution from these early beginnings.

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Oceaneering International, Inc. transitioned to a publicly traded entity in December 1991, moving its shares to the New York Stock Exchange. This public status means its ownership is distributed among various investors, with significant shifts occurring due to market dynamics and strategic corporate actions.

The Oceaneering ownership structure is heavily dominated by institutional investors, reflecting a common trend in large publicly traded corporations. As of March 2025, these entities held a substantial 97.31% of the company's stock, though this figure saw a slight decrease from 100.94% in December 2024. Mutual funds alone accounted for 78.94% of this institutional ownership in March 2025, down from 82.32% the previous month. This indicates a significant concentration of Oceaneering stock ownership among large investment management firms.

Major Oceaneering Shareholders

Institutional investors are the primary holders of Oceaneering stock, with several key firms managing significant portions of the company's shares. Understanding these major Oceaneering investors provides insight into who controls Oceaneering International Inc.

• Blackrock, Inc. is a leading shareholder with 16,636,357 shares as of March 31, 2025.
• Vanguard Group Inc. holds 12,361,546 shares.
• Brown Advisory Inc. possesses 6,545,919 shares.
• State Street Corp. owns 4,849,545 shares.
• Earnest Partners LLC manages 4,217,394 shares.

Insider ownership, representing shares held by company executives and directors, remained a smaller but stable component of Oceaneering's corporate structure. In March 2025, this category represented 1.77% of ownership, slightly decreasing to 1.84% by June 2025. Specifically, Roderick A. Larson, the President and CEO, held 0.36% of the company's shares as of February 24, 2025. Similarly, Senior VP & CFO Alan R. Curtis held 0.17% of the outstanding stock. This Oceaneering company insider ownership highlights the personal investment of leadership in the company's performance. For a broader perspective on the industry, exploring the Competitors Landscape of Oceaneering can provide additional context on market positioning and strategic alliances.

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Oceaneering International, Inc. is governed by a Board of Directors responsible for its strategic direction. The board operates on a staggered system, with one class of directors elected annually for a three-year term. As of March 28, 2025, the company maintains a single class of shares, each carrying one vote, ensuring a uniform voting power among shareholders.

The Board of Directors comprises individuals with a blend of internal management experience and external independent expertise. M. Kevin McEvoy, who has been a director since 2011, assumed the role of Chairman in 2023. Roderick A. Larson, the President and CEO since 2017, also serves as a Director. The board includes other directors such as Karen H. Beachy, William B. Berry, Deanna L. Goodwin, Paul B. Murphy, Jr., Jon Erik Reinhardsen, and Reema Poddar. Reema Poddar joined the board in February 2024 as an independent director and serves on the Audit Committee and the Nominating, Corporate Governance and Sustainability Committee. Notably, all directors, except for Mr. Larson, satisfy the New York Stock Exchange's independence criteria, and seven out of the nine directors have no prior employment history with the company, underscoring a commitment to independent governance.

Shareholder Alignment and Governance

The company's board conducts annual assessments to ensure effectiveness. Robust stock ownership guidelines are in place for directors and executive officers. This focus on governance and alignment was evident in the May 9, 2025 annual meeting.

• Election of three Class III directors: Roderick A. Larson, M. Kevin McEvoy, and Paul B. Murphy, Jr.
• Advisory approval of executive compensation.
• Ratification of Ernst & Young LLP as independent auditors for fiscal year 2025.
• All proposals received shareholder approval, indicating strong support for the board's recommendations and the company's direction, which is further detailed in the Growth Strategy of Oceaneering.

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In recent years, Oceaneering International, Inc. has undergone significant strategic maneuvers and leadership changes that have shaped its ownership landscape. The company has been actively repurchasing its shares, demonstrating a commitment to shareholder value. These actions, alongside key acquisitions and divestitures, highlight a dynamic period for Oceaneering.

The company's strategic initiatives include enhancing its digital capabilities through the acquisition of Global Design Innovation Ltd. (GDi) in October 2024. Concurrently, Oceaneering Entertainment Systems (OES) was divested, with Falcon's Beyond Global, Inc. completing the acquisition in May 2025, a move that shifts a segment of the company's operations. Leadership has also seen transitions, with William Merz appointed Senior Vice President, Aerospace and Defense Technologies, and Benjamin M. Laura becoming Senior Vice President and Chief Operating Officer, both in 2025.

Institutional Ownership Dominance

Institutional investors continue to hold the vast majority of Oceaneering's stock. Despite a slight decrease from 100.94% in December 2024 to 97.31% in March 2025, their significant stake underscores their influence on Oceaneering ownership.

Insider Activity and Financial Performance

Insider ownership has remained steady, around 1.77% to 1.84% in early 2025. While there have been insider sales, such as CFO Alan Curtis selling shares, the company reported strong Q1 2025 results, with revenue up 13% to $675 million and net income up 233% to $50.4 million.

Strategic Acquisitions and Divestitures

Oceaneering bolstered its digital services by acquiring GDi in October 2024. The subsequent sale of Oceaneering Entertainment Systems (OES) to Falcon's Beyond in May 2025 signifies a strategic refocusing of business segments.

Shareholder Value and Future Outlook

Active share buybacks, totaling $20 million in the first half of 2025, aim to enhance shareholder returns. The company has reaffirmed its full-year 2025 EBITDA guidance between $380 million and $430 million, reflecting confidence in its operational performance and Target Market of Oceaneering.

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