Oceaneering International, Inc. (NYSE:OII) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,127 shares of the oil and gas company's stock after purchasing an additional 18,241 shares during the quarter. Federated Hermes Inc. owned 0.14% of Oceaneering International worth $3,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Nikko Asset Management Americas Inc. raised its stake in shares of Oceaneering International by 62.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 27,675 shares of the oil and gas company's stock valued at $604,000 after purchasing an additional 10,628 shares during the period. Foundry Partners LLC increased its stake in Oceaneering International by 8.5% during the 1st quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company's stock worth $304,000 after buying an additional 1,096 shares during the period. Jennison Associates LLC lifted its holdings in Oceaneering International by 27.2% in the 1st quarter. Jennison Associates LLC now owns 57,463 shares of the oil and gas company's stock worth $1,253,000 after buying an additional 12,293 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Oceaneering International in the 1st quarter valued at about $5,039,000. Finally, Brown Advisory Inc. grew its stake in shares of Oceaneering International by 27.6% during the first quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company's stock valued at $142,767,000 after acquiring an additional 1,416,251 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on OII. Barclays raised their price objective on Oceaneering International from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Oceaneering International from a "hold" rating to a "buy" rating in a research report on Saturday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $28.25.

Oceaneering International Stock Performance

Shares of OII stock traded down $0.19 on Wednesday, hitting $21.91. 814,865 shares of the stock traded hands, compared to its average volume of 886,312. The company has a market capitalization of $2.20 billion, a PE ratio of 11.07 and a beta of 1.55. Oceaneering International, Inc. has a 1-year low of $15.46 and a 1-year high of $30.98. The company's fifty day moving average is $21.12 and its 200 day moving average is $21.05. 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 announced its quarterly 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 company had revenue of $698.16 million during the quarter, compared to the consensus estimate 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 for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal 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.