Legal & General Group Plc Lowers Position in Oceaneering International, Inc. (NYSE:OII)

Legal & General Group Plc reduced its holdings in Oceaneering International, Inc. (NYSE:OII - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 284,708 shares of the oil and gas company's stock after selling 15,580 shares during the quarter. Legal & General Group Plc owned approximately 0.28% of Oceaneering International worth $7,425,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of OII. Teacher Retirement System of Texas acquired a new stake in shares of Oceaneering International in the 4th quarter valued at about $531,000. Old West Investment Management LLC bought a new position in shares of Oceaneering International in the fourth quarter valued at $1,565,000. Stifel Financial Corp increased its position in shares of Oceaneering International by 51.8% during the third quarter. Stifel Financial Corp now owns 68,943 shares of the oil and gas company's stock worth $1,715,000 after acquiring an additional 23,512 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Oceaneering International by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,298,658 shares of the oil and gas company's stock valued at $33,869,000 after acquiring an additional 58,081 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Oceaneering International by 334.5% in the third quarter. Barclays PLC now owns 180,470 shares of the oil and gas company's stock worth $4,489,000 after purchasing an additional 138,931 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OII shares. StockNews.com lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. TD Cowen boosted their price objective on Oceaneering International from $26.00 to $27.00 and gave the stock a "hold" rating in a research report on Wednesday, January 8th. Citigroup cut shares of Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 target price on the stock. in a research note on Friday, January 10th. Barclays decreased their target price on Oceaneering International from $26.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Finally, Pickering Energy Partners upgraded Oceaneering International from an "underperform" rating to a "neutral" rating in a research note on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $28.25.

Oceaneering International Price Performance

NYSE OII traded up $0.58 during trading hours on Thursday, hitting $17.85. The company had a trading volume of 669,784 shares, compared to its average volume of 860,962. The firm has a 50 day simple moving average of $20.17 and a 200 day simple moving average of $24.22. Oceaneering International, Inc. has a 52 week low of $15.46 and a 52 week high of $30.98. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 12.37 and a beta of 1.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74.

Oceaneering International (NYSE:OII - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. The company had revenue of $674.52 million during the quarter, compared to analyst estimates of $651.96 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. Equities research analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share 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.