Jacobs Levy Equity Management Inc. Takes $1.99 Million Position in Oceaneering International, Inc. $OII

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $1,989,000 in 91,217 shares of Oceaneering International, making them a notable new stakeholder in the company.
• Oceaneering International reported a quarterly earnings per share (EPS) of $0.49, exceeding analysts' expectations of $0.42, along with a revenue of $698.16 million during the quarter.
• Wall Street analysts have mixed views on the stock, with price targets ranging from $22.00 to $27.00 and a general rating of "Hold" from analysts.

Jacobs Levy Equity Management Inc. bought a new stake in Oceaneering International, Inc. (NYSE:OII - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 91,217 shares of the oil and gas company's stock, valued at approximately $1,989,000. Jacobs Levy Equity Management Inc. owned approximately 0.09% of Oceaneering International at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Oceaneering International by 29.7% in the first quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock valued at $68,000 after buying an additional 711 shares in the last quarter. Foundry Partners LLC increased its stake in Oceaneering International by 8.5% in the first quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company's stock valued at $304,000 after purchasing an additional 1,096 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Oceaneering International by 12.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the oil and gas company's stock worth $242,000 after acquiring an additional 1,256 shares in the last quarter. Central Pacific Bank Trust Division increased its position in shares of Oceaneering International by 17.6% during the first quarter. Central Pacific Bank Trust Division now owns 9,230 shares of the oil and gas company's stock worth $201,000 after acquiring an additional 1,380 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Oceaneering International by 0.8% during the first quarter. Rhumbline Advisers now owns 258,594 shares of the oil and gas company's stock worth $5,640,000 after acquiring an additional 2,070 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Oceaneering International Stock Up 0.5%

Oceaneering International stock traded up $0.11 during midday trading on Tuesday, hitting $24.27. 579,565 shares of the stock were exchanged, compared to its average volume of 540,504. The company has a quick ratio of 1.67, a current ratio of 2.00 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 12.26 and a beta of 1.64. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $30.98. The business's 50-day moving average price is $22.73 and its 200-day moving average price is $20.75.

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

Analyst Upgrades and Downgrades

OII has been the subject of several recent research reports. Citigroup boosted their target price on shares of Oceaneering International from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 9th. Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Barclays boosted their price target 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 equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Oceaneering International has an average rating of "Hold" and an average target price of $27.00.

Insiders Place Their Bets

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

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.