Ieq Capital LLC Purchases New Shares in Oceaneering International, Inc. $OII

Key Points

• Ieq Capital LLC has acquired a new position in Oceaneering International, Inc. by purchasing 17,842 shares valued at approximately $389,000.
• Oceaneering International's stock is currently trading at $24.68, with a market cap of $2.47 billion and a P/E ratio of 12.46.
• Wall Street analysts have mixed views, with one lowering the rating from "buy" to "hold" and a consensus price target of $28.25 for the stock.

Ieq Capital LLC purchased a new stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,842 shares of the oil and gas company's stock, valued at approximately $389,000.

Several other hedge funds and other institutional investors also recently modified their holdings of OII. Brown Advisory Inc. increased its position in shares of Oceaneering International by 27.6% during the first quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company's stock valued at $142,767,000 after buying an additional 1,416,251 shares during the period. Nuveen LLC purchased a new stake in Oceaneering International in the first quarter worth about $11,993,000. Cubist Systematic Strategies LLC purchased a new stake in Oceaneering International in the fourth quarter worth about $8,490,000. American Century Companies Inc. grew its holdings in Oceaneering International by 9.6% in the first quarter. American Century Companies Inc. now owns 3,113,578 shares of the oil and gas company's stock worth $67,907,000 after purchasing an additional 271,868 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in Oceaneering International in the first quarter worth about $5,039,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Insider Activity at Oceaneering International

In related news, CFO Alan R. Curtis sold 14,840 shares of Oceaneering International stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total transaction 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 approximately $3,782,109.24. The trade was a 8.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Barclays upped their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Oceaneering International currently has a consensus rating of "Hold" and an average target price of $28.25.

Oceaneering International Stock Performance

OII stock traded down $0.65 on Friday, hitting $24.03. The company had a trading volume of 543,816 shares, compared to its average volume of 583,263. Oceaneering International, Inc. has a 12-month low of $15.46 and a 12-month high of $30.98. The company has a current ratio of 2.00, a quick ratio of 1.67 and a debt-to-equity ratio of 0.57. The stock's 50-day simple moving average is $22.30 and its 200 day simple moving average is $20.66. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 12.14 and a beta of 1.64.

Oceaneering International (NYSE:OII - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The company had revenue of $698.16 million for the quarter, compared to analysts' expectations of $676.81 million. During the same quarter last year, the company posted $0.28 earnings per share. The firm's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts expect 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.