World Asset Management Inc boosted its position in shares of Oceaneering International (NYSE:OII) by 23.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,162 shares of the oil and gas company’s stock after purchasing an additional 2,480 shares during the period. World Asset Management Inc’s holdings in Oceaneering International were worth $84,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OII. First Trust Advisors LP grew its holdings in Oceaneering International by 141.7% during the 1st quarter. First Trust Advisors LP now owns 140,671 shares of the oil and gas company’s stock valued at $2,218,000 after purchasing an additional 82,474 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Oceaneering International by 30.3% during the 4th quarter. Victory Capital Management Inc. now owns 17,873 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 4,157 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Oceaneering International by 6.2% during the 4th quarter. Guggenheim Capital LLC now owns 34,945 shares of the oil and gas company’s stock valued at $521,000 after acquiring an additional 2,031 shares during the last quarter. Man Group plc bought a new position in Oceaneering International during the 4th quarter valued at $944,000. Finally, Profund Advisors LLC boosted its stake in Oceaneering International by 5.0% during the 4th quarter. Profund Advisors LLC now owns 17,028 shares of the oil and gas company’s stock valued at $254,000 after acquiring an additional 815 shares during the last quarter. 88.39% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have commented on OII shares. Cfra reduced their price objective on shares of Oceaneering International from $12.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, May 14th. Piper Sandler reduced their price objective on shares of Oceaneering International from $8.50 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Sanford C. Bernstein upgraded shares of Oceaneering International from an “underperform” rating to a “market perform” rating and reduced their price objective for the company from $9.90 to $4.00 in a research note on Monday, April 6th. Capital One Financial reiterated an “equal weight” rating on shares of Oceaneering International in a research note on Thursday. Finally, Citigroup upgraded shares of Oceaneering International from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.00 to $7.00 in a research note on Friday, April 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Oceaneering International currently has an average rating of “Hold” and a consensus target price of $11.59.
Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.07. The company had revenue of $427.22 million for the quarter, compared to the consensus estimate of $458.30 million. Oceaneering International had a negative net margin of 33.67% and a negative return on equity of 4.16%. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period last year, the firm posted ($0.32) EPS. As a group, sell-side analysts predict that Oceaneering International will post -0.62 earnings per share for the current year.
Oceaneering International 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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