Wedge Capital Management L L P NC Has $1.67 Million Position in Oceaneering International, Inc. $OII

Key Points

• Wedge Capital Management L L P NC increased its stake in Oceaneering International by 15%, owning 80,368 shares valued at approximately $1.67 million as of the end of the latest reporting period.
• Oceaneering International reported earnings of $0.49 per share, exceeding analysts' expectations of $0.42, and generated quarterly revenue of $698.16 million, surpassing predictions of $676.81 million.
• Institutional investors and hedge funds currently hold 93.93% of Oceaneering International's stock, indicating strong institutional interest in the company.

Wedge Capital Management L L P NC lifted its stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 15.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,368 shares of the oil and gas company's stock after acquiring an additional 10,471 shares during the period. Wedge Capital Management L L P NC owned 0.08% of Oceaneering International worth $1,665,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Oceaneering International by 29.7% during the 1st quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company's stock valued at $68,000 after acquiring an additional 711 shares during the period. Central Pacific Bank Trust Division lifted its position in shares of Oceaneering International by 9.1% during the 2nd quarter. Central Pacific Bank Trust Division now owns 10,070 shares of the oil and gas company's stock valued at $209,000 after acquiring an additional 840 shares during the period. Foundry Partners LLC lifted its position in shares of Oceaneering International by 8.5% during the 1st quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company's stock valued at $304,000 after acquiring an additional 1,096 shares during the period. Inspire Investing LLC lifted its position in shares of Oceaneering International by 7.2% during the 1st quarter. Inspire Investing LLC now owns 18,352 shares of the oil and gas company's stock valued at $400,000 after acquiring an additional 1,240 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Oceaneering International by 12.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,102 shares of the oil and gas company's stock valued at $242,000 after acquiring an additional 1,256 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Oceaneering International Stock Performance

NYSE OII opened at $24.46 on Tuesday. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $30.98. The company has a 50-day simple moving average of $22.96 and a 200 day simple moving average of $20.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.67 and a current ratio of 2.00. The company has a market capitalization of $2.45 billion, a PE ratio of 12.35 and a beta of 1.64.

Oceaneering International (NYSE:OII - Get Free Report) last posted 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 business had revenue of $698.16 million during 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 firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. On average, research analysts predict that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

OII has been the topic of several research reports. Citigroup upped their price objective on shares of Oceaneering International from $20.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, September 9th. Barclays upped their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Oceaneering International has a consensus rating of "Hold" and a consensus price target of $27.00.

Insiders Place Their Bets

In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 155,259 shares in the company, valued at $3,782,109.24. This trade represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by corporate insiders.

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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