Oceaneering International, Inc. (NYSE:OII) Holdings Trimmed by New York State Common Retirement Fund

Key Points

• The New York State Common Retirement Fund decreased its holdings in Oceaneering International by 97.3% in the first quarter, owning only 31,248 shares after selling over 1.1 million shares.
• Several hedge funds increased their positions in Oceaneering International, with GAMMA Investing LLC raising its stake by 29.7% and Tower Research Capital raising its stake by 191.5%.
• Analysts have mixed opinions on Oceaneering International, with Barclays lowering its price target from $22.00 to $21.00 and several firms maintaining a consensus rating of "Hold" with a price target of $28.00.

New York State Common Retirement Fund trimmed its position in Oceaneering International, Inc. (NYSE:OII - Free Report) by 97.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,248 shares of the oil and gas company's stock after selling 1,139,182 shares during the period. New York State Common Retirement Fund's holdings in Oceaneering International were worth $682,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its holdings in shares of Oceaneering International by 27.6% during the 1st quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company's stock worth $142,767,000 after acquiring an additional 1,416,251 shares during the period. FIL Ltd purchased a new stake in Oceaneering International during the fourth quarter worth about $18,864,000. Cubist Systematic Strategies LLC purchased a new position in Oceaneering International in the 4th quarter valued at approximately $8,490,000. JPMorgan Chase & Co. raised its position in Oceaneering International by 48.0% in the 4th quarter. JPMorgan Chase & Co. now owns 797,517 shares of the oil and gas company's stock valued at $20,799,000 after purchasing an additional 258,588 shares in the last quarter. Finally, Greenhouse Funds LLLP increased its position in shares of Oceaneering International by 10.0% in the 4th quarter. Greenhouse Funds LLLP now owns 2,689,795 shares of the oil and gas company's stock valued at $70,150,000 after purchasing an additional 244,362 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on OII shares. Barclays cut their price target on shares of Oceaneering International from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Pickering Energy Partners raised shares of Oceaneering International from an "underperform" rating to a "neutral" rating in a report on Wednesday, April 2nd. Finally, Wall Street Zen downgraded Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $28.00.

Oceaneering International Stock Down 5.2%

NYSE OII traded down $1.25 during mid-day trading on Friday, reaching $22.71. 961,216 shares of the company's stock traded hands, compared to its average volume of 860,945. The company has a current ratio of 2.00, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $20.71 and a 200-day simple moving average of $21.26. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 11.47 and a beta of 1.48. Oceaneering International, Inc. has a 1-year low of $15.46 and a 1-year high of $30.98.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings data 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 business 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 revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. As a group, equities research analysts expect that Oceaneering International, Inc. will post 1.78 EPS for the current 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.