Mitsubishi UFJ Asset Management Co. Ltd. Invests $2.89 Million in Oceaneering International, Inc. $OII

Key Points

• Mitsubishi UFJ Asset Management acquired 71,302 shares of Oceaneering International valued at approximately $2.89 million, giving it a 0.07% stake. Institutional investors and hedge funds collectively own 93.93% of the company.
• Analysts remain cautious, with one Buy rating and four Holds; the consensus rating is Hold with a $45 price target, below the stock’s recent $53.01 price.
• Oceaneering reported quarterly EPS of $0.63, exceeding the $0.46 estimate, while revenue rose 10% year over year to $768.18 million. Shares have climbed near their 52-week high of $54.25.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Oceaneering International, Inc. (NYSE:OII - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 71,302 shares of the oil and gas company's stock, valued at approximately $2,889,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Oceaneering International as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of OII. Wilmington Savings Fund Society FSB acquired a new position in Oceaneering International during the third quarter worth $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Oceaneering International by 335.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 1,111 shares during the last quarter. Quarry LP purchased a new position in shares of Oceaneering International during the 3rd quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Oceaneering International in the 1st quarter valued at $53,000. Finally, Hantz Financial Services Inc. grew its position in Oceaneering International by 248.8% during the fourth 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 Upgrades and Downgrades

Several research firms recently weighed in on OII. Barclays lifted their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Citigroup increased their target price on Oceaneering International from $40.00 to $52.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of Oceaneering International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, August 14th. Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, TD Cowen lifted their target price 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 given a Hold rating to the company's stock. Based on data from MarketBeat, Oceaneering International has an average rating of "Hold" and a consensus price target of $45.00.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $53.01 on Friday. The stock has a fifty day moving average price of $44.53 and a two-hundred day moving average price of $39.16. The firm has a market cap of $5.28 billion, a P/E ratio of 15.23 and a beta of 1.15. Oceaneering International, Inc. has a 1 year low of $22.02 and a 1 year high of $54.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.46 by $0.17. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The firm had revenue of $768.18 million for the quarter, compared to analysts' expectations of $735.69 million. During the same period in the previous year, the business earned $0.49 earnings per share. Oceaneering International's revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts forecast that Oceaneering International, Inc. will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul B. Murphy, Jr. sold 10,000 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $48.37, for a total transaction of $483,700.00. Following the sale, the director directly owned 68,916 shares of the company's stock, valued at $3,333,466.92. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher J. Dyer sold 1,200 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the sale, the senior vice president owned 14,702 shares in the company, valued at approximately $700,550.30. The trade was a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,901 shares of company stock valued at $1,277,904. Insiders own 1.30% of the company's stock.

Oceaneering International Profile

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.

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