Great Lakes Advisors LLC Has $534,000 Position in Oceaneering International, Inc. $OII

Key Points

• Great Lakes Advisors LLC has reduced its holdings in Oceaneering International, Inc. by 47.5%, now owning 24,488 shares worth $534,000.
• Several institutional investors, including Brown Advisory Inc. and Old West Investment Management LLC, made significant adjustments to their positions in Oceaneering International during the first quarter of 2023.
• Analysts have varied opinions on Oceaneering, with recent changes including a downgrade from a "buy" to a "hold" rating by Wall Street Zen and target price increases from Barclays and Citigroup.

Great Lakes Advisors LLC lessened its holdings in Oceaneering International, Inc. (NYSE:OII - Free Report) by 47.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,488 shares of the oil and gas company's stock after selling 22,195 shares during the quarter. Great Lakes Advisors LLC's holdings in Oceaneering International were worth $534,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Oceaneering International by 29.7% during the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock worth $68,000 after buying an additional 711 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Oceaneering International in the fourth quarter valued at approximately $119,000. Vestcor Inc bought a new stake in shares of Oceaneering International during the 1st quarter worth approximately $156,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Oceaneering International in the 4th quarter valued at approximately $200,000. Finally, Central Pacific Bank Trust Division grew its stake in shares of Oceaneering International by 17.6% in the first quarter. Central Pacific Bank Trust Division now owns 9,230 shares of the oil and gas company's stock valued at $201,000 after buying an additional 1,380 shares in the last quarter. Institutional investors own 93.93% of the company's stock.

Oceaneering International Stock Performance

NYSE:OII traded down $0.08 during mid-day trading on Monday, reaching $24.18. 524,817 shares of the company's stock were exchanged, compared to its average volume of 544,002. Oceaneering International, Inc. has a one year low of $15.46 and a one year high of $30.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 2.00. The business's fifty day simple moving average is $22.68 and its two-hundred day simple moving average is $20.72. The firm has a market capitalization of $2.42 billion, a PE ratio of 12.21 and a beta of 1.64.

Oceaneering International (NYSE:OII - Get Free Report) last announced its 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 $0.42 by $0.07. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The firm had revenue of $698.16 million for the quarter, compared to analyst estimates of $676.81 million. During the same quarter in the prior year, the business posted $0.28 EPS. The business's revenue was up 4.5% compared to the same quarter last year. Analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of Oceaneering International stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total value of $361,502.40. Following the completion of the transaction, the chief financial officer directly owned 155,259 shares of the company's stock, valued at $3,782,109.24. The trade was a 8.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Wall Street Zen cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Citigroup lifted their price target on Oceaneering International from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.00.

Oceaneering International 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.