Herndon Capital Management LLC reduced its position in shares of Oceaneering International Inc. (NYSE:OII) by 33.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,295,496 shares of the company’s stock after selling 657,306 shares during the period. Herndon Capital Management LLC’s holdings in Oceaneering International were worth $38,683,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Seven Eight Capital LLC bought a new stake in shares of Oceaneering International during the first quarter worth $246,000. BlueMountain Capital Management LLC acquired a new position in Oceaneering International during the first quarter valued at about $265,000. Boys Arnold & Co. Inc. acquired a new position in Oceaneering International during the second quarter valued at about $239,000. First Citizens Bank & Trust Co. increased its position in Oceaneering International by 7.0% in the second quarter. First Citizens Bank & Trust Co. now owns 8,263 shares of the company’s stock valued at $247,000 after buying an additional 541 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in Oceaneering International during the first quarter valued at about $283,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.
Oceaneering International Inc. (NYSE:OII) traded down 0.82% on Tuesday, reaching $26.64. 1,182,361 shares of the company traded hands. The company has a market capitalization of $2.61 billion, a PE ratio of 18.28 and a beta of 1.57. The stock’s 50 day moving average price is $26.39 and its 200 day moving average price is $29.95. Oceaneering International Inc. has a one year low of $24.33 and a one year high of $47.45.
Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Oceaneering International had a return on equity of 11.41% and a net margin of 5.31%. The company earned $625.50 million during the quarter, compared to the consensus estimate of $604.16 million. On average, equities research analysts predict that Oceaneering International Inc. will post $0.76 EPS for the current fiscal year.
OII has been the subject of several analyst reports. Seaport Global Securities reaffirmed an “accumulate” rating on shares of Oceaneering International in a research note on Friday, August 19th. Royal Bank Of Canada dropped their price target on shares of Oceaneering International from $32.00 to $28.00 and set a “sector perform” rating for the company in a research note on Thursday, September 15th. Loop Capital initiated coverage on shares of Oceaneering International in a research note on Friday, September 30th. They set a “buy” rating for the company. Stephens reissued a “top pick” rating on shares of Oceaneering International in a research note on Friday, July 15th. Finally, RBC Capital Markets set a $28.00 target price on shares of Oceaneering International and gave the stock a “hold” rating in a research note on Thursday, September 15th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Oceaneering International currently has an average rating of “Hold” and an average target price of $33.97.
About Oceaneering International
Oceaneering International, Inc is an oilfield provider of engineered services and products to the offshore oil and gas industry, with a focus on deep water applications. The Company’s business segments include services and products provided to the oil and gas industry (Oilfield), and all other services and products (Advanced Technologies).
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