Royal Bank of Canada Has $27.03 Million Stake in Oceaneering International, Inc. $OII

Royal Bank of Canada reduced its position in Oceaneering International, Inc. (NYSE:OII - Free Report) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,239,342 shares of the oil and gas company's stock after selling 82,425 shares during the period. Royal Bank of Canada owned approximately 1.23% of Oceaneering International worth $27,030,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ieq Capital LLC bought a new position in shares of Oceaneering International during the first quarter worth about $389,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Oceaneering International by 62.3% during the first 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 last quarter. Principal Financial Group Inc. lifted its position in shares of Oceaneering International by 2.3% during the first 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 last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Oceaneering International during the first quarter worth about $546,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of Oceaneering International by 1.5% during the first 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 last quarter. Institutional investors own 93.93% of the company's stock.

Insider Buying and Selling

In related news, CFO Alan R. Curtis sold 14,840 shares of the firm'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 completion of the transaction, the chief financial officer owned 155,259 shares of the company's stock, valued at approximately $3,782,109.24. This trade represents a 8.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company's stock.

Oceaneering International Price Performance

NYSE:OII traded up $0.08 during trading hours on Thursday, reaching $24.52. 224,418 shares of the company's stock were exchanged, compared to its average volume of 842,735. The company has a market capitalization of $2.46 billion, a P/E ratio of 12.39 and a beta of 1.64. Oceaneering International, Inc. has a 12 month low of $15.46 and a 12 month high of $30.98. The company has a quick ratio of 1.67, a current ratio of 2.00 and a debt-to-equity ratio of 0.57. The business's 50-day simple moving average is $22.48 and its two-hundred day simple moving average is $20.70.

Oceaneering International (NYSE:OII - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.07. The firm had revenue of $698.16 million during 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 firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. Sell-side analysts expect that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on OII shares. Citigroup upped their target price on Oceaneering International from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday. Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Barclays raised their price target on shares of Oceaneering International from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.00.

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.