Intech Investment Management LLC Has $2.04 Million Position in Oceaneering International, Inc. $OII

Key Points

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Intech Investment Management LLC grew its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 51.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,627 shares of the oil and gas company's stock after purchasing an additional 31,894 shares during the quarter. Intech Investment Management LLC owned about 0.09% of Oceaneering International worth $2,042,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. increased its position in Oceaneering International by 27.6% in the first quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company's stock worth $142,767,000 after purchasing an additional 1,416,251 shares during the last quarter. Nuveen LLC acquired a new position in shares of Oceaneering International during the first quarter valued at about $11,993,000. American Century Companies Inc. increased its holdings in Oceaneering International by 9.6% in the 1st quarter. American Century Companies Inc. now owns 3,113,578 shares of the oil and gas company's stock worth $67,907,000 after buying an additional 271,868 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Oceaneering International during the 1st quarter valued at approximately $5,039,000. Finally, Old West Investment Management LLC lifted its holdings in Oceaneering International by 338.7% in the 1st quarter. Old West Investment Management LLC now owns 263,200 shares of the oil and gas company's stock valued at $5,740,000 after purchasing an additional 203,200 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Insider Activity

In other news, CFO Alan R. Curtis sold 14,840 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total value of $361,502.40. Following the transaction, the chief financial officer owned 155,259 shares in the company, valued at approximately $3,782,109.24. This represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Barclays boosted their target price on Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Citigroup increased their target price on Oceaneering International from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 9th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $27.00.

Oceaneering International Trading Down 1.3%

OII stock traded down $0.33 during midday trading on Friday, hitting $24.32. 2,164,257 shares of the company's stock were exchanged, compared to its average volume of 540,358. The company has a market cap of $2.44 billion, a PE ratio of 12.28 and a beta of 1.64. The stock's fifty day moving average price is $22.89 and its 200-day moving average price is $20.83. Oceaneering International, Inc. has a one year low of $15.46 and a one year high of $30.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 2.00.

Oceaneering International (NYSE:OII - Get Free Report) last issued 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 business had revenue of $698.16 million during the quarter, compared to analysts' expectations of $676.81 million. Oceaneering International had a return on equity of 22.09% and a net margin of 7.31%.The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. 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.