Oceaneering International, Inc. (NYSE:OII) Position Boosted by Bank of America Corp DE

Bank of America Corp DE lifted its holdings in Oceaneering International, Inc. (NYSE:OII - Free Report) by 29.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 529,028 shares of the oil and gas company's stock after purchasing an additional 120,923 shares during the period. Bank of America Corp DE owned about 0.52% of Oceaneering International worth $13,797,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in OII. R Squared Ltd bought a new stake in Oceaneering International during the fourth quarter worth approximately $40,000. Tower Research Capital LLC TRC increased its holdings in shares of Oceaneering International by 191.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company's stock valued at $85,000 after buying an additional 2,131 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Oceaneering International by 354.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company's stock valued at $104,000 after acquiring an additional 3,157 shares during the last quarter. KBC Group NV boosted its stake in shares of Oceaneering International by 72.6% during the 4th quarter. KBC Group NV now owns 5,210 shares of the oil and gas company's stock worth $136,000 after acquiring an additional 2,192 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Oceaneering International during the 4th quarter worth $156,000. 93.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OII. Barclays cut their target price on Oceaneering International from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Pickering Energy Partners raised Oceaneering International from an "underperform" rating to a "neutral" rating in a research note on Wednesday, April 2nd. Finally, StockNews.com lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Oceaneering International has a consensus rating of "Hold" and an average price target of $28.00.

Oceaneering International Price Performance

Shares of NYSE:OII opened at $18.89 on Thursday. The company's fifty day moving average is $19.12 and its two-hundred day moving average is $23.39. The company has a market cap of $1.90 billion, a P/E ratio of 13.11 and a beta of 1.54. Oceaneering International, Inc. has a 12-month low of $15.46 and a 12-month high of $30.98. The company has a quick ratio of 1.46, a current ratio of 1.74 and a debt-to-equity ratio of 0.67.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.07. The business had revenue of $674.52 million for the quarter, compared to the consensus estimate of $651.96 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. Oceaneering International's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Equities analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

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.

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