The investment management company added Oceaneering International (OII), a subsea engineering and offshore services firm, to its Small Cap Strategy portfolio in the second quarter of 2026. Riverwater Partners stated that offshore and subsea capital spending is emerging from a seven-year drought, and the U.S. rig count is climbing. Oceaneering International (OII) closed at $51.76 per share on August 31, 2026, with its shares gaining 112.92% over the past 52 weeks.