New York State Common Retirement Fund reduced its holdings in shares of Oceaneering International (NYSE:OII) by 47.0% in the 1st quarter, HoldingsChannel reports. The fund owned 196,082 shares of the oil and gas company’s stock after selling 173,561 shares during the period. New York State Common Retirement Fund’s holdings in Oceaneering International were worth $3,635,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. purchased a new position in Oceaneering International during the 4th quarter valued at about $112,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Oceaneering International by 869.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,918 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 10,689 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Oceaneering International during the 1st quarter valued at about $227,000. Koch Industries Inc. purchased a new position in Oceaneering International during the 4th quarter valued at about $301,000. Finally, Rockefeller Capital Management L.P. purchased a new position in Oceaneering International during the 1st quarter valued at about $268,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.
A number of brokerages have recently commented on OII. Barclays set a $21.00 price target on shares of Oceaneering International and gave the stock a “hold” rating in a report on Monday, February 26th. Zacks Investment Research cut shares of Oceaneering International from a “hold” rating to a “sell” rating in a research report on Friday, April 27th. Wells Fargo & Co raised shares of Oceaneering International from an “underperform” rating to a “market perform” rating and set a $17.00 price target on the stock in a research report on Thursday, May 24th. ValuEngine upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th. Finally, Goldman Sachs Group upgraded shares of Oceaneering International from a “neutral” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Monday, May 14th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have given a buy rating to the stock. Oceaneering International currently has an average rating of “Hold” and an average price target of $22.85.
Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, April 25th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.08). The company had revenue of $416.00 million for the quarter, compared to analyst estimates of $426.79 million. Oceaneering International had a negative return on equity of 2.77% and a net margin of 6.60%. Oceaneering International’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. sell-side analysts expect that Oceaneering International will post -1 earnings per share for the current year.
Oceaneering International Profile
Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, 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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