Bank of America Corp DE reduced its position in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 58.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 261,231 shares of the oil and gas company's stock after selling 366,703 shares during the period. Bank of America Corp DE owned about 0.26% of Oceaneering International worth $9,266,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Oceaneering International by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company's stock worth $1,312,000 after acquiring an additional 2,633 shares in the last quarter. Empowered Funds LLC increased its holdings in Oceaneering International by 1.9% during the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company's stock valued at $2,634,000 after purchasing an additional 2,310 shares in the last quarter. Strs Ohio bought a new position in Oceaneering International in the 1st quarter valued at $168,000. Norges Bank bought a new position in Oceaneering International in the 2nd quarter valued at $1,485,000. Finally, Invesco Ltd. boosted its stake in Oceaneering International by 8.0% in the second quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company's stock worth $13,472,000 after purchasing an additional 48,382 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.
Oceaneering International Price Performance
Shares of OII stock opened at $50.48 on Tuesday. The stock has a 50-day moving average price of $44.78 and a 200 day moving average price of $39.36. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 14.50 and a beta of 1.15. Oceaneering International, Inc. has a 12 month low of $22.02 and a 12 month high of $54.25.
Oceaneering International (NYSE:OII - Get Free Report) last released its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.17. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The company had revenue of $768.18 million for the quarter, compared to the consensus estimate of $735.69 million. During the same period in the prior year, the company posted $0.49 EPS. The company's revenue was up 10.0% compared to the same quarter last year. Research analysts expect that Oceaneering International, Inc. will post 2.1 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Weiss Ratings cut Oceaneering International from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 14th. Barclays raised their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Citigroup boosted their target price on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, TD Cowen increased their price target on shares of Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $45.00.
Read Our Latest Research Report on Oceaneering International
Insider Buying and Selling
In related news, Director M Kevin Mcevoy sold 3,000 shares of Oceaneering International stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.92, for a total transaction of $143,760.00. Following the completion of the sale, the director directly owned 134,133 shares of the company's stock, valued at $6,427,653.36. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher J. Dyer sold 1,200 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.65, for a total value of $57,180.00. Following the completion of the sale, the senior vice president owned 14,702 shares of the company's stock, valued at $700,550.30. This represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 26,901 shares of company stock worth $1,277,904. Company insiders own 1.30% of the company's stock.
About Oceaneering International
(
Free Report)
Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.
Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.
See Also
Want to see what other hedge funds are holding OII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oceaneering International, Inc. (NYSE:OII - Free Report).
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