Jacobs Levy Equity Management Inc. Buys New Shares 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. acquired a new position in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,217 shares of the oil and gas company's stock, valued at approximately $1,989,000. Jacobs Levy Equity Management Inc. owned about 0.09% of Oceaneering International at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC grew its stake in Oceaneering International by 12.4% during the first quarter. EP Wealth Advisors LLC now owns 25,721 shares of the oil and gas company's stock worth $561,000 after buying an additional 2,832 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Oceaneering International by 25.6% during the first quarter. Cubist Systematic Strategies LLC now owns 408,844 shares of the oil and gas company's stock worth $8,917,000 after buying an additional 83,302 shares during the last quarter. Graham Capital Management L.P. grew its stake in Oceaneering International by 161.7% during the first quarter. Graham Capital Management L.P. now owns 79,770 shares of the oil and gas company's stock worth $1,740,000 after buying an additional 49,290 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Oceaneering International during the first quarter worth about $424,000. Finally, Panagora Asset Management Inc. grew its stake in Oceaneering International by 705.7% during the first quarter. Panagora Asset Management Inc. now owns 160,513 shares of the oil and gas company's stock worth $3,501,000 after buying an additional 140,592 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Insider Activity at Oceaneering International

In related news, CFO Alan R. Curtis sold 14,840 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total transaction of $361,502.40. Following the sale, the chief financial officer directly owned 155,259 shares in the company, valued at $3,782,109.24. This trade represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.

Oceaneering International Trading Down 2.1%

OII stock traded down $0.51 during midday trading on Friday, reaching $24.25. The company's stock had a trading volume of 437,627 shares, compared to its average volume of 554,411. Oceaneering International, Inc. has a 52 week low of $15.46 and a 52 week high of $30.98. The stock has a market cap of $2.43 billion, a PE ratio of 12.25 and a beta of 1.64. 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 business's 50-day simple moving average is $22.61 and its 200-day simple moving average is $20.73.

Oceaneering International (NYSE:OII - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share (EPS) 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 business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. As a group, sell-side analysts expect that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OII. Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Barclays upped their target price 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. Finally, Citigroup upped 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. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $27.00.

About Oceaneering International

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.