Fisher Asset Management LLC Boosts Stock Holdings in Oceaneering International, Inc. $OII

Key Points

• Fisher Asset Management increased its stake in Oceaneering International by 23.9% in the fourth quarter, adding 153,214 shares and bringing its total holdings to 793,098 shares worth about $19.1 million.
• Institutional ownership in Oceaneering remains heavy, with hedge funds and other institutions holding 93.93% of the stock. Several smaller investors also raised their positions during recent quarters.
• Analyst sentiment is mixed but cautious: the stock currently carries a Hold consensus rating, while CEO Roderick A. Larson recently sold 5,000 shares and the company’s latest earnings beat on revenue but missed EPS estimates.

Fisher Asset Management LLC boosted its position in Oceaneering International, Inc. (NYSE:OII - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 793,098 shares of the oil and gas company's stock after purchasing an additional 153,214 shares during the period. Fisher Asset Management LLC owned about 0.79% of Oceaneering International worth $19,058,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Oceaneering International in the third quarter valued at approximately $28,000. Quarry LP purchased a new position in Oceaneering International in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. lifted its stake in Oceaneering International by 255.1% in the third quarter. SBI Securities Co. Ltd. now owns 1,392 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Oceaneering International by 47.5% in the third quarter. Bessemer Group Inc. now owns 1,952 shares of the oil and gas company's stock valued at $48,000 after purchasing an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analyst Ratings Changes

OII has been the topic of a number of analyst reports. TD Cowen boosted their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a report on Thursday, April 30th. Zacks Research cut shares of Oceaneering International from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. Barclays boosted their target price on shares of Oceaneering International from $32.00 to $39.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Oceaneering International in a report on Friday, May 22nd. Finally, Wall Street Zen cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, March 1st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $36.67.

Insider Buying and Selling at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the transaction, the chief executive officer owned 397,279 shares of the company's stock, valued at approximately $15,203,867.33. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.

Oceaneering International Trading Down 0.7%

Oceaneering International stock opened at $38.78 on Thursday. The stock has a market cap of $3.87 billion, a P/E ratio of 11.51 and a beta of 1.17. Oceaneering International, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $40.12. The firm's fifty day moving average price is $36.97 and its 200-day moving average price is $31.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08.

Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. Equities research analysts forecast that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.

Oceaneering International Profile

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.

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