Fox Run Management L.L.C. Invests $2 Million in Oceaneering International, Inc. $OII

Key Points

• Fox Run Management L.L.C. has made a new investment in Oceaneering International, Inc., purchasing 91,609 shares valued at approximately $2 million, which now constitutes 0.3% of their investment portfolio.
• Several institutional investors have increased their stakes in Oceaneering International, resulting in 93.93% of the company's stock being owned by hedge funds and other institutions.
• Oceaneering International reported a quarterly EPS of $0.49, exceeding expectations, with a revenue of $698.16 million, reflecting a year-over-year increase of 4.5%.

Fox Run Management L.L.C. purchased a new stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 91,609 shares of the oil and gas company's stock, valued at approximately $1,998,000. Oceaneering International makes up about 0.3% of Fox Run Management L.L.C.'s investment portfolio, making the stock its 28th largest position. Fox Run Management L.L.C. owned 0.09% of Oceaneering International at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in Oceaneering International by 57.1% in the first quarter. Russell Investments Group Ltd. now owns 153,353 shares of the oil and gas company's stock worth $3,345,000 after acquiring an additional 55,717 shares during the period. Public Sector Pension Investment Board raised its position in Oceaneering International by 26.1% in the first quarter. Public Sector Pension Investment Board now owns 320,489 shares of the oil and gas company's stock worth $6,990,000 after acquiring an additional 66,378 shares during the period. Nuveen LLC bought a new stake in Oceaneering International in the first quarter worth about $11,993,000. Aigen Investment Management LP bought a new stake in Oceaneering International in the first quarter worth about $253,000. Finally, Townsquare Capital LLC raised its position in Oceaneering International by 10.1% in the first quarter. Townsquare Capital LLC now owns 107,263 shares of the oil and gas company's stock worth $2,339,000 after acquiring an additional 9,805 shares during the period. Institutional investors own 93.93% of the company's stock.

Wall Street Analysts Forecast Growth

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

Oceaneering International Price Performance

OII stock traded down $0.3350 during midday trading on Tuesday, reaching $22.5750. The company had a trading volume of 199,000 shares, compared to its average volume of 870,329. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.00 and a quick ratio of 1.67. Oceaneering International, Inc. has a 1 year low of $15.46 and a 1 year high of $30.98. The company has a market capitalization of $2.26 billion, a P/E ratio of 11.40 and a beta of 1.55. The firm has a 50-day moving average price of $21.53 and a 200-day moving average price of $20.76.

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