Algert Global LLC Purchases 28,591 Shares of Oceaneering International, Inc. $OII

Key Points

• Algert Global LLC increased its stake in Oceaneering International, Inc. by 10.3%, acquiring an additional 28,591 shares, bringing its total holdings to approximately 305,899 shares valued at about $6.67 million.
• Oceaneering posted earnings of $0.49 per share for its latest quarter, surpassing analyst expectations and showing a year-over-year revenue increase of 4.5%.
• Analysts have a consensus rating of "Hold" for Oceaneering shares, with an average target price of $28.25, despite some recent downgrading in ratings.

Algert Global LLC increased its position in Oceaneering International, Inc. (NYSE:OII - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 305,899 shares of the oil and gas company's stock after buying an additional 28,591 shares during the period. Algert Global LLC owned 0.30% of Oceaneering International worth $6,672,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in OII. Envestnet Asset Management Inc. grew its stake in shares of Oceaneering International by 0.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 322,028 shares of the oil and gas company's stock valued at $8,398,000 after buying an additional 1,438 shares during the period. Bank of Montreal Can grew its stake in shares of Oceaneering International by 5.5% in the 4th quarter. Bank of Montreal Can now owns 21,387 shares of the oil and gas company's stock valued at $558,000 after buying an additional 1,119 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Oceaneering International in the 4th quarter valued at about $381,000. Raymond James Financial Inc. acquired a new stake in shares of Oceaneering International in the 4th quarter valued at about $1,749,000. Finally, Summit Investment Advisors Inc. boosted its stake in Oceaneering International by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company's stock valued at $276,000 after purchasing an additional 584 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on OII shares. Wall Street Zen downgraded Oceaneering International from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Barclays boosted their target price on Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Oceaneering International has a consensus rating of "Hold" and an average target price of $28.25.

Oceaneering International Stock Performance

Oceaneering International stock traded up $1.0020 during trading on Friday, hitting $23.9720. The stock had a trading volume of 574,255 shares, compared to its average volume of 721,856. Oceaneering International, Inc. has a 1 year low of $15.46 and a 1 year high of $30.98. The company has a quick ratio of 1.67, a current ratio of 2.00 and a debt-to-equity ratio of 0.57. The stock's 50 day moving average is $21.68 and its two-hundred day moving average is $20.77. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 12.11 and a beta of 1.55.

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

Oceaneering International Company Profile

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.