Bank of New York Mellon Corp Trims Stake in Oceaneering International, Inc. (NYSE:OII)

Bank of New York Mellon Corp reduced its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 68.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 652,692 shares of the oil and gas company's stock after selling 1,399,484 shares during the quarter. Bank of New York Mellon Corp owned about 0.65% of Oceaneering International worth $14,235,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in shares of Oceaneering International during the fourth quarter valued at $531,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Oceaneering International by 62.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,675 shares of the oil and gas company's stock valued at $604,000 after buying an additional 10,628 shares during the last quarter. Old West Investment Management LLC purchased a new stake in shares of Oceaneering International during the fourth quarter valued at $1,565,000. Principal Financial Group Inc. boosted its position in shares of Oceaneering International by 2.3% during the first quarter. Principal Financial Group Inc. now owns 539,234 shares of the oil and gas company's stock valued at $11,761,000 after buying an additional 12,085 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Oceaneering International during the first quarter valued at $546,000. 93.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OII has been the topic of a number of analyst reports. Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Pickering Energy Partners raised Oceaneering International from an "underperform" rating to a "neutral" rating in a research note on Wednesday, April 2nd. Finally, Barclays decreased their target price on Oceaneering International from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $28.00.

Oceaneering International Stock Performance

Shares of OII traded up $1.26 during mid-day trading on Wednesday, reaching $22.39. The company had a trading volume of 1,399,762 shares, compared to its average volume of 847,425. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $30.98. The company has a quick ratio of 1.58, a current ratio of 1.89 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $2.25 billion, a P/E ratio of 12.58 and a beta of 1.48. The stock has a 50 day moving average of $20.52 and a two-hundred day moving average of $21.35.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.09. Oceaneering International had a return on equity of 20.59% and a net margin of 6.68%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. On average, analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share 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.