World Asset Management Inc lifted its position in shares of Oceaneering International (NYSE:OII) by 23.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,162 shares of the oil and gas company’s stock after acquiring an additional 2,480 shares during the quarter. World Asset Management Inc’s holdings in Oceaneering International were worth $84,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Oceaneering International during the fourth quarter worth about $19,520,000. Invesco Ltd. increased its stake in shares of Oceaneering International by 6.0% during the first quarter. Invesco Ltd. now owns 653,137 shares of the oil and gas company’s stock worth $1,920,000 after acquiring an additional 37,174 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Oceaneering International by 2.1% during the first quarter. BNP Paribas Arbitrage SA now owns 251,814 shares of the oil and gas company’s stock worth $740,000 after acquiring an additional 5,141 shares during the period. State Street Corp increased its stake in shares of Oceaneering International by 8.6% during the first quarter. State Street Corp now owns 3,983,484 shares of the oil and gas company’s stock worth $11,711,000 after acquiring an additional 314,003 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Oceaneering International by 82.7% during the first quarter. Two Sigma Advisers LP now owns 376,645 shares of the oil and gas company’s stock worth $1,107,000 after acquiring an additional 170,500 shares during the period. Institutional investors and hedge funds own 88.39% of the company’s stock.
A number of research analysts have recently issued reports on OII shares. Citigroup upgraded shares of Oceaneering International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $7.00 in a research note on Friday, April 24th. Piper Sandler lowered their target price on shares of Oceaneering International from $8.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Sanford C. Bernstein upgraded shares of Oceaneering International from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $9.90 to $4.00 in a research report on Monday, April 6th. Cfra lowered their target price on shares of Oceaneering International from $12.00 to $5.00 and set a “hold” rating on the stock in a research report on Thursday, May 14th. Finally, Capital One Financial restated an “equal weight” rating on shares of Oceaneering International in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $11.59.
Shares of NYSE OII opened at $5.62 on Friday. Oceaneering International has a 12-month low of $2.01 and a 12-month high of $16.24. The company has a market capitalization of $561.86 million, a PE ratio of -0.82 and a beta of 3.32. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.50 and a quick ratio of 2.03. The firm’s 50-day moving average is $6.38 and its two-hundred day moving average is $7.46.
Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.07. Oceaneering International had a negative net margin of 33.67% and a negative return on equity of 4.16%. The company had revenue of $427.22 million for the quarter, compared to the consensus estimate of $458.30 million. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. The company’s revenue for the quarter was down 13.8% compared to the same quarter last year. On average, analysts forecast that Oceaneering International will post -0.62 EPS for the current fiscal year.
Oceaneering International Profile
Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.
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