AlphaQuest LLC Boosts Holdings in Oceaneering International, Inc. $OII

Key Points

• AlphaQuest LLC significantly increased its holdings in Oceaneering International, Inc. by 443.7% during Q1, owning 65,466 shares valued at approximately $1.43 million.
• Brokerages have differing views on Oceaneering, with Barclays raising its price target from $21 to $22, while Wall Street Zen downgraded their rating from "buy" to "hold".
• Oceaneering reported an EPS of $0.49 for the last quarter, exceeding the expectation of $0.42, alongside a revenue increase of 4.5% year-over-year.

AlphaQuest LLC lifted its holdings in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 443.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,466 shares of the oil and gas company's stock after buying an additional 53,426 shares during the quarter. AlphaQuest LLC owned about 0.07% of Oceaneering International worth $1,428,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings 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 last quarter. Foundry Partners LLC boosted its stake in shares of Oceaneering International by 8.5% in the 1st quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company's stock valued at $304,000 after purchasing an additional 1,096 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Oceaneering International by 12.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the oil and gas company's stock valued at $242,000 after purchasing an additional 1,256 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in Oceaneering International by 17.6% during the 1st quarter. Central Pacific Bank Trust Division now owns 9,230 shares of the oil and gas company's stock valued at $201,000 after buying an additional 1,380 shares during the period. Finally, Stifel Financial Corp boosted its position in Oceaneering International by 2.1% during the 4th quarter. Stifel Financial Corp now owns 70,418 shares of the oil and gas company's stock valued at $1,837,000 after buying an additional 1,475 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Barclays increased their price target on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.25.

Oceaneering International Stock Up 0.2%

NYSE:OII traded up $0.05 on Thursday, reaching $24.45. 193,958 shares of the stock traded hands, compared to its average volume of 858,931. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 12.35 and a beta of 1.55. The company has a current ratio of 2.00, a quick ratio of 1.67 and a debt-to-equity ratio of 0.57. Oceaneering International, Inc. has a 12 month low of $15.46 and a 12 month high of $30.98. The company's fifty day simple moving average is $21.83 and its 200 day simple moving average is $20.75.

Oceaneering International (NYSE:OII - Get Free Report) last released 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. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The business had revenue of $698.16 million during the quarter, compared to analyst estimates of $676.81 million. During the same period last year, the business earned $0.28 EPS. Oceaneering International's revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that Oceaneering International, Inc. will post 1.78 EPS 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.