Oceaneering International, Inc. $OII Shares Acquired by Old West Investment Management LLC

Key Points

• Old West Investment Management LLC significantly increased its stake in Oceaneering International by 338.7%, now owning 263,200 shares valued at approximately $5.74 million.
• Oceaneering International reported earnings of $0.49 per share for the last quarter, surpassing expectations and showing a 4.5% year-over-year revenue increase.
• Institutional investors hold 93.93% of Oceaneering International's shares, indicating strong institutional confidence in the company's stock.

Old West Investment Management LLC lifted its stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 338.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 263,200 shares of the oil and gas company's stock after purchasing an additional 203,200 shares during the quarter. Oceaneering International comprises 2.1% of Old West Investment Management LLC's portfolio, making the stock its 19th largest position. Old West Investment Management LLC owned approximately 0.26% of Oceaneering International worth $5,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Oceaneering International by 62.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,675 shares of the oil and gas company's stock worth $604,000 after purchasing an additional 10,628 shares during the period. Principal Financial Group Inc. raised its position in shares of Oceaneering International by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 539,234 shares of the oil and gas company's stock worth $11,761,000 after purchasing an additional 12,085 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Oceaneering International during the 1st quarter worth approximately $546,000. Envestnet Asset Management Inc. raised its position in shares of Oceaneering International by 1.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 326,978 shares of the oil and gas company's stock worth $7,131,000 after purchasing an additional 4,950 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in shares of Oceaneering International by 21.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 69,897 shares of the oil and gas company's stock worth $1,524,000 after purchasing an additional 12,199 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $23.9720 on Monday. The stock has a fifty day moving average price of $21.68 and a two-hundred day moving average price of $20.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 2.00. The firm has a market cap of $2.40 billion, a P/E ratio of 12.11 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.

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 analysts' consensus estimates of $0.42 by $0.07. The firm had revenue of $698.16 million during the quarter, compared to analyst estimates of $676.81 million. Oceaneering International had a return on equity of 22.09% and a net margin of 7.31%.The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. Research analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Barclays increased their price objective on Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Oceaneering International has an average rating of "Hold" and a consensus price target of $28.25.

About Oceaneering International

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.

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