Public Sector Pension Investment Board Buys 66,378 Shares of Oceaneering International, Inc. $OII

Key Points

• The Public Sector Pension Investment Board increased its holdings in Oceaneering International by 26.1%, now owning approximately 320,489 shares valued at $6.99 million.
• Oceaneering reported a 12-month revenue increase of 4.5% and earnings of $0.49 per share, exceeding expectations for the recent quarter.
• Analysts have mixed views on Oceaneering, with Barclays raising its target price to $22.00 while Wall Street Zen downgraded the stock rating to "hold."

Public Sector Pension Investment Board grew its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 26.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,489 shares of the oil and gas company's stock after purchasing an additional 66,378 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of Oceaneering International worth $6,990,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Oceaneering International by 29.7% in the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock worth $68,000 after buying an additional 711 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Oceaneering International by 191.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company's stock worth $85,000 after buying an additional 2,131 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Oceaneering International in the 4th quarter worth about $119,000. Vestcor Inc purchased a new stake in shares of Oceaneering International in the 1st quarter worth about $156,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Oceaneering International in the 4th quarter worth about $200,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Down 1.6%

OII stock traded down $0.3630 during trading on Tuesday, hitting $22.5470. 594,568 shares of the stock traded hands, compared to its average volume of 872,990. Oceaneering International, Inc. has a 1 year low of $15.46 and a 1 year high of $30.98. The firm's 50 day moving average is $21.53 and its two-hundred day moving average is $20.76. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 11.39 and a beta of 1.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.00 and a quick ratio of 1.67.

Oceaneering International (NYSE:OII - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. On average, sell-side analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OII. Wall Street Zen downgraded 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. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Oceaneering International presently has an average rating of "Hold" and a consensus target price of $28.25.

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.