Victory Capital Management Inc. Cuts Stock Position in Oceaneering International, Inc. (NYSE:OII)

Key Points

• Victory Capital Management Inc. reduced its stake in Oceaneering International by 58.9%, ending the quarter with 198,042 shares valued at approximately $4.3 million.
• Other institutional investors, such as GAMMA Investing LLC and Tower Research Capital LLC, have increased their positions in Oceaneering International, reflecting a diverse range of changes in investor sentiment.
• Oceaneering International reported a profit of $0.49 per share for the last quarter, surpassing analysts' expectations, with revenues growing by 4.5% year-over-year.

Victory Capital Management Inc. cut its holdings in Oceaneering International, Inc. (NYSE:OII - Free Report) by 58.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 198,042 shares of the oil and gas company's stock after selling 283,991 shares during the quarter. Victory Capital Management Inc. owned 0.20% of Oceaneering International worth $4,319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Oceaneering International by 29.7% in 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 in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Oceaneering International by 191.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,244 shares of the oil and gas company's stock valued at $85,000 after buying an additional 2,131 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Oceaneering International in the fourth quarter valued at approximately $119,000. New Age Alpha Advisors LLC purchased a new stake in shares of Oceaneering International in the fourth quarter valued at approximately $156,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Oceaneering International in the fourth quarter valued at approximately $200,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Oceaneering International Stock Performance

NYSE OII opened at $22.71 on Friday. The stock's fifty day moving average is $20.71 and its two-hundred day moving average is $21.26. The firm has a market capitalization of $2.28 billion, a P/E ratio of 11.47 and a beta of 1.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.00. Oceaneering International, Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $30.98.

Oceaneering International (NYSE:OII - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 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 the consensus estimate of $676.81 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company's revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OII. Barclays lowered their price target on Oceaneering International from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Pickering Energy Partners raised Oceaneering International from an "underperform" rating to a "neutral" rating in a research note on Wednesday, April 2nd. Finally, Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.00.

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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