Aigen Investment Management LP Takes $253,000 Position in Oceaneering International, Inc. (NYSE:OII)

Key Points

• Aigen Investment Management LP has acquired a new position in Oceaneering International, Inc., purchasing 11,599 shares for approximately $253,000.
• Oceaneering experienced recent analyst activity, with a downgrade from a "buy" rating to a "hold" by Wall Street Zen, while Barclays increased the target price from $21.00 to $22.00.
• The company reported a quarterly earnings of $0.49 EPS, surpassing analysts' expectations and reflecting a revenue increase of 4.5% year-over-year.

Aigen Investment Management LP purchased a new position in Oceaneering International, Inc. (NYSE:OII - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,599 shares of the oil and gas company's stock, valued at approximately $253,000.

A number of other hedge funds have also recently made changes to their positions in OII. GAMMA Investing LLC grew its holdings in shares of Oceaneering International by 29.7% during the first quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock valued at $68,000 after buying an additional 711 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Oceaneering International by 191.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company's stock valued at $85,000 after buying an additional 2,131 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Oceaneering International during the fourth quarter worth about $119,000. Vestcor Inc purchased a new position in Oceaneering International during the first quarter worth about $156,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in Oceaneering International during the fourth quarter worth about $200,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Stock Performance

OII stock traded up $0.01 during mid-day trading on Friday, hitting $22.35. The company had a trading volume of 645,821 shares, compared to its average volume of 861,232. The firm has a market cap of $2.24 billion, a PE ratio of 11.29 and a beta of 1.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 2.00. Oceaneering International, Inc. has a 12 month low of $15.46 and a 12 month high of $30.98. The stock's fifty day moving average price is $21.48 and its two-hundred day moving average price is $20.81.

Oceaneering International (NYSE:OII - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.42 by $0.07. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The business had revenue of $698.16 million for the quarter, compared to analyst estimates of $676.81 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Barclays boosted their price target on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $28.25.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.