Goehring & Rozencwajg Associates LLC Has $13.67 Million Position in Oceaneering International, Inc. $OII

Key Points

• Goehring & Rozencwajg Associates LLC increased its stake in Oceaneering International by 22% in the fourth quarter, ending with 568,734 shares valued at about $13.67 million.
• Several other institutional investors also boosted or initiated positions in OII, and institutional ownership now stands at 93.93% of the stock.
• Analysts currently have a mostly cautious stance on the company, with an average rating of “Hold” and an average price target of $36.67, while shares recently traded above that level at $39.34.

Goehring & Rozencwajg Associates LLC increased its holdings in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 22.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 568,734 shares of the oil and gas company's stock after acquiring an additional 102,676 shares during the quarter. Oceaneering International comprises 1.3% of Goehring & Rozencwajg Associates LLC's portfolio, making the stock its 26th biggest holding. Goehring & Rozencwajg Associates LLC owned 0.57% of Oceaneering International worth $13,667,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OII. Morgan Stanley Institutional Investment Advisors LLC acquired a new position in shares of Oceaneering International during the 4th quarter worth approximately $94,847,000. Balyasny Asset Management L.P. increased its holdings in shares of Oceaneering International by 916.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company's stock worth $28,219,000 after acquiring an additional 1,227,950 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Oceaneering International by 94.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 763,907 shares of the oil and gas company's stock worth $18,930,000 after acquiring an additional 371,586 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Oceaneering International by 210.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company's stock worth $12,190,000 after acquiring an additional 333,666 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of Oceaneering International by 74.2% during the 3rd quarter. Algert Global LLC now owns 649,747 shares of the oil and gas company's stock worth $16,101,000 after acquiring an additional 276,818 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on OII. Barclays boosted their target price on Oceaneering International from $32.00 to $39.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, March 1st. TD Cowen boosted their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Thursday, April 30th. Citigroup upped their price objective on Oceaneering International from $25.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, March 10th. Finally, Zacks Research lowered Oceaneering International from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Oceaneering International has an average rating of "Hold" and an average price target of $36.67.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $39.34 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.08 and a quick ratio of 1.79. The stock's fifty day moving average price is $37.75 and its two-hundred day moving average price is $32.74. Oceaneering International, Inc. has a one year low of $20.21 and a one year high of $40.21. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 11.67 and a beta of 1.16.

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

Insider Buying and Selling

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the transaction, the chief executive officer directly owned 397,279 shares of the company's stock, valued at $15,203,867.33. This represents a 1.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Oceaneering International Company 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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