Arizona State Retirement System raised its position in Oceaneering International (NYSE:OII) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,800 shares of the oil and gas company’s stock after buying an additional 828 shares during the period. Arizona State Retirement System owned approximately 0.07% of Oceaneering International worth $1,464,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of OII. Foundry Partners LLC increased its stake in shares of Oceaneering International by 6.0% during the second quarter. Foundry Partners LLC now owns 27,925 shares of the oil and gas company’s stock valued at $569,000 after acquiring an additional 1,575 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Oceaneering International during the second quarter valued at approximately $481,000. Oregon Public Employees Retirement Fund increased its stake in shares of Oceaneering International by 1.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 39,480 shares of the oil and gas company’s stock valued at $805,000 after acquiring an additional 565 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Oceaneering International by 54.8% during the second quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 4,000 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. acquired a new position in shares of Oceaneering International during the second quarter valued at approximately $8,465,000. 96.45% of the stock is owned by institutional investors.
A number of research firms recently commented on OII. Citigroup lowered their price objective on shares of Oceaneering International from $22.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday. Royal Bank of Canada set a $20.00 price objective on shares of Oceaneering International and gave the company a “buy” rating in a research note on Friday, July 26th. ValuEngine lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Cowen reiterated a “market perform” rating and set a $19.00 price objective (up previously from $16.00) on shares of Oceaneering International in a research note on Friday, May 3rd. Finally, Barclays reiterated a “buy” rating and set a $21.00 price objective on shares of Oceaneering International in a research note on Sunday, May 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Oceaneering International has a consensus rating of “Hold” and an average price target of $18.20.
Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.07). The business had revenue of $495.78 million for the quarter, compared to the consensus estimate of $524.97 million. Oceaneering International had a negative return on equity of 4.38% and a negative net margin of 9.49%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.23) earnings per share. On average, sell-side analysts expect that Oceaneering International will post -0.85 EPS for the current fiscal year.
Oceaneering International Company 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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