Retirement Systems of Alabama increased its stake in shares of Oceaneering International (NYSE:OII) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,661 shares of the oil and gas company’s stock after buying an additional 906 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Oceaneering International worth $2,029,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc purchased a new stake in Oceaneering International in the 4th quarter valued at approximately $55,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Oceaneering International during the 4th quarter worth approximately $81,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Oceaneering International by 21.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 1,189 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Oceaneering International by 79.3% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,197 shares of the oil and gas company’s stock worth $92,000 after acquiring an additional 3,183 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. boosted its stake in shares of Oceaneering International by 12.7% during the 4th quarter. Bbva Compass Bancshares Inc. now owns 10,049 shares of the oil and gas company’s stock worth $122,000 after acquiring an additional 1,131 shares in the last quarter.
Several equities research analysts have recently commented on OII shares. Societe Generale set a $17.00 price target on Oceaneering International and gave the stock a “hold” rating in a research note on Friday, February 15th. Zacks Investment Research raised Oceaneering International from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. ValuEngine raised Oceaneering International from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Seaport Global Securities raised Oceaneering International from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, May 7th. Finally, Cowen reissued a “market perform” rating and set a $16.00 price target (down previously from $17.00) on shares of Oceaneering International in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $21.71.
NYSE:OII traded down $0.83 on Wednesday, reaching $17.70. The stock had a trading volume of 1,240,300 shares, compared to its average volume of 1,131,216. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.44 and a quick ratio of 2.03. The stock has a market cap of $1.82 billion, a P/E ratio of -24.93 and a beta of 2.09. Oceaneering International has a 12-month low of $10.74 and a 12-month high of $28.62.
Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Monday, April 29th. The oil and gas company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $493.89 million during the quarter, compared to analysts’ expectations of $466.33 million. Oceaneering International had a negative net margin of 9.46% and a negative return on equity of 3.64%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.41) EPS. As a group, equities analysts expect that Oceaneering International will post -0.75 earnings per share for the current year.
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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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