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

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

Several other large investors also recently bought and sold shares of OII. Inspire Advisors LLC increased its position in shares of Oceaneering International by 4.9% during the fourth quarter. Inspire Advisors LLC now owns 8,848 shares of the oil and gas company's stock worth $231,000 after purchasing an additional 411 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Oceaneering International by 0.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,032 shares of the oil and gas company's stock worth $1,853,000 after buying an additional 446 shares during the last quarter. LPL Financial LLC grew its stake in Oceaneering International by 0.8% during the 4th quarter. LPL Financial LLC now owns 56,253 shares of the oil and gas company's stock worth $1,467,000 after buying an additional 451 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Oceaneering International by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company's stock worth $276,000 after buying an additional 584 shares during the period. Finally, Empowered Funds LLC increased its position in Oceaneering International by 0.6% during the fourth quarter. Empowered Funds LLC now owns 118,466 shares of the oil and gas company's stock worth $3,090,000 after buying an additional 757 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OII shares. Pickering Energy Partners raised Oceaneering International from an "underperform" rating to a "neutral" rating in a report on Wednesday, April 2nd. Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Barclays lowered their price objective on shares of 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $28.00.

Oceaneering International Stock Performance

Shares of OII stock traded up $0.25 during midday trading on Tuesday, hitting $19.24. The company had a trading volume of 588,252 shares, compared to its average volume of 853,904. The company's 50 day simple moving average is $18.94 and its 200 day simple moving average is $23.14. 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 $1.94 billion, a price-to-earnings ratio of 13.36 and a beta of 1.54. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46.

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, topping the consensus estimate of $0.36 by $0.07. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. The firm had revenue of $674.52 million during the quarter, compared to the consensus estimate of $651.96 million. During the same period last year, the company earned $0.14 earnings per share. The company's revenue for the quarter was up 12.6% on a year-over-year basis. Research analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Oceaneering International 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.