Van ECK Associates Corp Has $43.96 Million Stock Holdings in Oceaneering International, Inc. (NYSE:OII)

Van ECK Associates Corp decreased its stake in Oceaneering International, Inc. (NYSE:OII) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,065,927 shares of the oil and gas company’s stock after selling 23,700 shares during the period. Van ECK Associates Corp’s holdings in Oceaneering International were worth $43,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OII. Loomis Sayles & Co. L P acquired a new stake in shares of Oceaneering International in the third quarter valued at $30,757,000. Hennessy Advisors Inc. grew its position in shares of Oceaneering International by 541.1% during the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after buying an additional 829,000 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Oceaneering International by 79.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock valued at $42,704,000 after purchasing an additional 734,518 shares in the last quarter. FMR LLC lifted its holdings in shares of Oceaneering International by 18.9% during the 3rd quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock valued at $114,134,000 after purchasing an additional 705,534 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Oceaneering International by 27.0% during the 3rd quarter. Invesco Ltd. now owns 1,202,565 shares of the oil and gas company’s stock valued at $30,930,000 after purchasing an additional 256,036 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on OII. Benchmark restated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a research note on Thursday, April 25th. Barclays decreased their target price on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Finally, StockNews.com lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Friday.

Oceaneering International Price Performance

Shares of NYSE:OII traded down $0.80 during trading on Tuesday, reaching $23.56. 219,976 shares of the company traded hands, compared to its average volume of 826,435. The company’s 50 day moving average is $22.59 and its two-hundred day moving average is $21.75. The firm has a market capitalization of $2.39 billion, a PE ratio of 22.98 and a beta of 2.49. The company has a quick ratio of 1.50, a current ratio of 1.76 and a debt-to-equity ratio of 0.76. Oceaneering International, Inc. has a 52 week low of $14.99 and a 52 week high of $27.46.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). The company had revenue of $599.09 million for the quarter, compared to the consensus estimate of $613.58 million. Oceaneering International had a net margin of 4.36% and a return on equity of 14.82%. As a group, sell-side analysts predict that Oceaneering International, Inc. will post 1.54 earnings per share for the current year.

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.