Russell Investments Group Ltd. Acquires 55,717 Shares of Oceaneering International, Inc. $OII

Key Points

• Russell Investments Group Ltd. increased its stake in Oceaneering International by 57.1%, acquiring an additional 55,717 shares, bringing its total ownership to 153,353 shares valued at approximately $3.35 million.
• In recent trading, Oceaneering's stock price rose by 4.4%, with a current market capitalization of $2.40 billion and a price-to-earnings ratio of 12.11.
• Oceaneering International reported better-than-expected earnings per share of $0.49 for the last quarter, exceeding analysts' estimates of $0.42.

Russell Investments Group Ltd. increased its stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 57.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,353 shares of the oil and gas company's stock after buying an additional 55,717 shares during the period. Russell Investments Group Ltd. owned 0.15% of Oceaneering International worth $3,345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 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 in the last quarter. Principal Financial Group Inc. raised its position in Oceaneering International by 2.3% in 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 last quarter. Harbor Capital Advisors Inc. acquired a new position in Oceaneering International during the 1st quarter worth $546,000. Envestnet Asset Management Inc. boosted its position in Oceaneering International by 1.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 326,978 shares of the oil and gas company's stock valued at $7,131,000 after buying an additional 4,950 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in shares of Oceaneering International by 21.1% in the 1st quarter. Wedge Capital Management L L P NC now owns 69,897 shares of the oil and gas company's stock valued at $1,524,000 after buying an additional 12,199 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Oceaneering International Trading Up 4.4%

NYSE:OII opened at $23.9720 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.67 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 firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 12.11 and a beta of 1.55. The business's 50-day moving average price is $21.68 and its two-hundred day moving average price is $20.73.

Oceaneering International (NYSE:OII - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07. The company 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 company'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 earned $0.28 EPS. On average, equities analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OII has been the topic of several research reports. Barclays upped their price target on Oceaneering International from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average 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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