American Century Companies Inc. Boosts Stock Position in Oceaneering International, Inc. $OII

Key Points

• American Century Companies Inc. increased its holdings in Oceaneering International, Inc. by 9.6% during the first quarter, owning approximately 3.10% of the company’s stock valued at $67.9 million.
• Several other large investors, including GAMMA Investing LLC and Tower Research Capital LLC, have also significantly increased their stakes in Oceaneering, indicating strong institutional interest with 93.93% of the stock owned by hedge funds and institutional investors.
• Oceaneering International reported earnings of $0.49 per share for the latest quarter, exceeding analysts' expectations, and experienced a 4.5% year-over-year revenue growth. Analysts project a consensus earnings per share of 1.78 for the current fiscal year.

American Century Companies Inc. lifted its stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 9.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,113,578 shares of the oil and gas company's stock after acquiring an additional 271,868 shares during the quarter. American Century Companies Inc. owned approximately 3.10% of Oceaneering International worth $67,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in OII. Bank of Montreal Can raised its position in shares of Oceaneering International by 5.5% during the fourth quarter. Bank of Montreal Can now owns 21,387 shares of the oil and gas company's stock worth $558,000 after acquiring an additional 1,119 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Oceaneering International during the fourth quarter worth about $381,000. Raymond James Financial Inc. bought a new stake in Oceaneering International in the fourth quarter worth approximately $1,749,000. Summit Investment Advisors Inc. increased its holdings in Oceaneering International by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company's stock worth $276,000 after purchasing an additional 584 shares in the last quarter. Finally, Barclays PLC increased its holdings in Oceaneering International by 64.4% in the fourth quarter. Barclays PLC now owns 296,721 shares of the oil and gas company's stock worth $7,740,000 after purchasing an additional 116,251 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Stock Up 4.4%

Shares of NYSE:OII traded up $1.0020 during mid-day trading on Friday, hitting $23.9720. 574,255 shares of the company traded hands, compared to its average volume of 721,856. The stock has a market cap of $2.40 billion, a P/E ratio of 12.11 and a beta of 1.55. The company has a current ratio of 2.00, a quick ratio of 1.67 and a debt-to-equity ratio of 0.57. Oceaneering International, Inc. has a 12-month low of $15.46 and a 12-month high of $30.98. The stock has a 50-day moving average price of $21.68 and a two-hundred day moving average price of $20.77.

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

Wall Street Analyst Weigh In

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

Oceaneering International 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.