Walleye Capital LLC Invests $394,000 in Oceaneering International, Inc. $OII

Key Points

• Walleye Capital LLC invested approximately $394,000 in Oceaneering International, Inc. by purchasing 18,077 shares in the first quarter.
• Several hedge funds increased their stakes in Oceaneering International, with Brown Advisory Inc. acquiring a total of 6,545,919 shares, reflecting a 27.6% increase.
• Analysts have mixed ratings on Oceaneering International, with one upgrade to a target price of $22.00 and a downgrade from "buy" to "hold," leaving an average rating of "Hold."

Walleye Capital LLC purchased a new position in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,077 shares of the oil and gas company's stock, valued at approximately $394,000.

A number of other hedge funds have also recently made changes to their positions in OII. Brown Advisory Inc. increased its holdings in Oceaneering International by 27.6% in the 1st quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company's stock valued at $142,767,000 after purchasing an additional 1,416,251 shares during the last quarter. American Century Companies Inc. increased its holdings in Oceaneering International by 9.6% in the 1st quarter. American Century Companies Inc. now owns 3,113,578 shares of the oil and gas company's stock valued at $67,907,000 after purchasing an additional 271,868 shares during the last quarter. Congress Asset Management Co. increased its holdings in Oceaneering International by 3.1% in the 1st quarter. Congress Asset Management Co. now owns 1,790,545 shares of the oil and gas company's stock valued at $39,052,000 after purchasing an additional 54,238 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Oceaneering International by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,331,297 shares of the oil and gas company's stock valued at $29,036,000 after purchasing an additional 32,639 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Oceaneering International by 19.4% in the 4th quarter. Northern Trust Corp now owns 1,230,886 shares of the oil and gas company's stock valued at $32,102,000 after purchasing an additional 200,183 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays lifted their target price on shares of Oceaneering International from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $28.25.

Insiders Place Their Bets

In related news, CFO Alan R. Curtis sold 14,840 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total transaction of $361,502.40. Following the completion of the sale, the chief financial officer directly 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company's stock.

Oceaneering International Stock Performance

Shares of OII stock opened at $24.33 on Wednesday. The company's fifty day simple moving average is $22.10 and its 200-day simple moving average is $20.69. Oceaneering International, Inc. has a 52 week low of $15.46 and a 52 week high of $30.98. The company has a current ratio of 2.00, a quick ratio of 1.67 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.44 billion, a PE ratio of 12.29 and a beta of 1.64.

Oceaneering International (NYSE:OII - Get Free Report) last issued 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 net margin of 7.31% and a return on equity of 22.09%. The business had revenue of $698.16 million for the quarter, compared to the consensus estimate of $676.81 million. During the same quarter last year, the firm posted $0.28 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current year.

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.

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