Royce & Associates LP Reduces Position in Oceaneering International, Inc. (NYSE:OII)

Key Points

• Royce & Associates LP reduced its stake in Oceaneering International by 21.8% in Q1, holding 43,017 shares valued at approximately $938,000.
• Oceaneering International reported a quarterly earnings per share (EPS) of $0.49, surpassing analysts' expectations of $0.42, with revenues totaling $698.16 million.
• Institutional investors own approximately 93.93% of Oceaneering International's stock, indicating strong institutional interest in the company.

Royce & Associates LP lessened its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 21.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,017 shares of the oil and gas company's stock after selling 11,983 shares during the period. Royce & Associates LP's holdings in Oceaneering International were worth $938,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in OII. LPL Financial LLC raised its holdings in shares of Oceaneering International by 0.8% in the 4th quarter. LPL Financial LLC now owns 56,253 shares of the oil and gas company's stock valued at $1,467,000 after purchasing an additional 451 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Oceaneering International by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company's stock valued at $276,000 after purchasing an additional 584 shares in the last quarter. GAMMA Investing LLC raised 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 valued at $68,000 after purchasing an additional 711 shares in the last quarter. Foundry Partners LLC raised its holdings 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. Finally, Bank of Montreal Can raised its holdings in shares of Oceaneering International by 5.5% in the 4th quarter. Bank of Montreal Can now owns 21,387 shares of the oil and gas company's stock valued at $558,000 after purchasing an additional 1,119 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on OII shares. Wall Street Zen lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Barclays lifted their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Oceaneering International presently has an average rating of "Hold" and an average price target of $28.25.

Oceaneering International Stock Down 2.9%

Shares of Oceaneering International stock traded down $0.63 on Friday, reaching $21.07. The stock had a trading volume of 264,682 shares, compared to its average volume of 883,427. The company has a 50 day moving average price of $20.97 and a 200 day moving average price of $21.19. The company has a quick ratio of 1.67, a current ratio of 2.00 and a debt-to-equity ratio of 0.57. Oceaneering International, Inc. has a 1 year low of $15.46 and a 1 year high of $30.98. The stock has a market capitalization of $2.11 billion, a P/E ratio of 10.64 and a beta of 1.48.

Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.07. The firm had revenue of $698.16 million for the quarter, compared to the consensus estimate of $676.81 million. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. As a group, equities research analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current 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.