Goehring & Rozencwajg Associates LLC boosted its stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 25.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 713,586 shares of the oil and gas company's stock after purchasing an additional 144,852 shares during the quarter. Oceaneering International comprises approximately 1.4% of Goehring & Rozencwajg Associates LLC's investment portfolio, making the stock its 23rd biggest position. Goehring & Rozencwajg Associates LLC owned about 0.72% of Oceaneering International worth $25,311,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oceaneering International during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC grew its stake in Oceaneering International by 335.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company's stock valued at $30,000 after buying an additional 1,111 shares during the last quarter. Quarry LP acquired a new position in Oceaneering International in the 3rd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. bought a new position in Oceaneering International in the 1st quarter valued at about $53,000. Finally, Hantz Financial Services Inc. raised its holdings in Oceaneering International by 248.8% in the 4th quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company's stock valued at $55,000 after acquiring an additional 1,627 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
OII has been the subject of a number of research analyst reports. Citigroup boosted their price objective on Oceaneering International from $35.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, June 18th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Oceaneering International in a research note on Friday, May 22nd. Barclays lifted their price target on Oceaneering International from $32.00 to $39.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Finally, TD Cowen boosted their price target on Oceaneering International from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $38.33.
Read Our Latest Research Report on Oceaneering International
Insider Activity
In related news, CEO Roderick A. Larson sold 5,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $38.27, for a total transaction of $191,350.00. Following the sale, the chief executive officer owned 397,279 shares of the company's stock, valued at $15,203,867.33. This represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company's stock.
Oceaneering International Price Performance
Shares of Oceaneering International stock opened at $42.74 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 12.68 and a beta of 1.15. Oceaneering International, Inc. has a twelve month low of $20.21 and a twelve month high of $44.22. The company has a 50-day simple moving average of $38.74 and a two-hundred day simple moving average of $35.04.
Oceaneering International (NYSE:OII - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The business had revenue of $692.43 million for the quarter, compared to analyst estimates of $671.35 million. During the same quarter in the previous year, the company earned $0.43 EPS. The business's revenue for the quarter was up 2.7% on a year-over-year basis. Analysts forecast that Oceaneering International, Inc. will post 1.89 EPS for the current year.
Oceaneering International Profile
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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.
Further Reading
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