Royal Bank of Canada Reduces Holdings in Oceaneering International, Inc. $OII

Royal Bank of Canada lessened its position in Oceaneering International, Inc. (NYSE:OII - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Oceaneering International by 29.7% during the first quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock valued at $68,000 after buying an additional 711 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Oceaneering International during the fourth quarter valued at approximately $119,000. Vestcor Inc purchased a new position in shares of Oceaneering International during the first quarter valued at approximately $156,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Oceaneering International during the fourth quarter valued at approximately $200,000. Finally, Central Pacific Bank Trust Division boosted its position in shares of Oceaneering International by 17.6% during the first 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 last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Insiders Place Their Bets

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $24.36, for a total value of $361,502.40. Following the transaction, the chief financial officer directly owned 155,259 shares in the company, valued at $3,782,109.24. This represents a 8.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Oceaneering International Stock Performance

Shares of OII traded down $0.51 during mid-day trading on Friday, hitting $24.25. The stock had a trading volume of 437,627 shares, compared to its average volume of 554,411. The firm has a market cap of $2.43 billion, a P/E ratio of 12.25 and a beta of 1.64. The business has a fifty day moving average price of $22.61 and a 200-day moving average price of $20.73. 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, Inc. has a 52 week low of $15.46 and a 52 week high of $30.98.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.07. Oceaneering International had a return on equity of 22.09% and a net margin of 7.31%.The company had revenue of $698.16 million for the quarter, compared to analyst estimates of $676.81 million. During the same period in the previous year, the company posted $0.28 EPS. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on OII. Citigroup lifted their target price on Oceaneering International from $20.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday. Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Barclays boosted their price objective 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. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Oceaneering International has a consensus rating of "Hold" and a consensus target price of $27.00.

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.