Cornercap Investment Counsel Inc. Invests $202,000 in Oceaneering International, Inc. (NYSE:OII)

Cornercap Investment Counsel Inc. purchased a new position in Oceaneering International, Inc. (NYSE:OII) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,751 shares of the oil and gas company’s stock, valued at approximately $202,000.

Other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Oceaneering International in the 4th quarter worth about $40,000. Millburn Ridgefield Corp bought a new stake in shares of Oceaneering International during the third quarter valued at approximately $57,000. Smartleaf Asset Management LLC boosted its holdings in shares of Oceaneering International by 354.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 3,157 shares during the period. KBC Group NV grew its stake in Oceaneering International by 72.6% in the fourth quarter. KBC Group NV now owns 5,210 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 2,192 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Oceaneering International during the 4th quarter worth $156,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Performance

OII stock opened at $21.60 on Monday. Oceaneering International, Inc. has a one year low of $18.87 and a one year high of $30.98. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 15.00 and a beta of 2.42. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74. The firm has a 50-day simple moving average of $23.18 and a two-hundred day simple moving average of $25.20.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $713.45 million for the quarter, compared to analysts’ expectations of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. On average, equities analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OII has been the subject of several research reports. StockNews.com cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research note on Friday, January 10th. TD Cowen increased their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Pickering Energy Partners lowered shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. Finally, Barclays dropped their price objective on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Oceaneering International has a consensus rating of “Hold” and an average price target of $28.25.

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.