State of Tennessee Treasury Department grew its stake in shares of Oceaneering International (NYSE:OII) by 4.4% in the third quarter, Holdings Channel reports. The firm owned 76,289 shares of the oil and gas company’s stock after acquiring an additional 3,200 shares during the period. State of Tennessee Treasury Department’s holdings in Oceaneering International were worth $1,034,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Cerebellum GP LLC purchased a new stake in shares of Oceaneering International during the third quarter valued at $32,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Oceaneering International in the second quarter valued at about $36,000. Point72 Hong Kong Ltd bought a new stake in shares of Oceaneering International in the second quarter valued at about $50,000. US Bancorp DE raised its holdings in shares of Oceaneering International by 36.6% in the second quarter. US Bancorp DE now owns 4,893 shares of the oil and gas company’s stock valued at $100,000 after acquiring an additional 1,310 shares in the last quarter. Finally, World Asset Management Inc bought a new stake in shares of Oceaneering International in the third quarter valued at about $150,000. 95.55% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. Citigroup decreased their price objective on Oceaneering International from $22.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada set a $20.00 price objective on Oceaneering International and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Bank of America assumed coverage on Oceaneering International in a report on Tuesday. They issued a “buy” rating and a $17.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Oceaneering International presently has an average rating of “Hold” and a consensus price target of $18.09.
Shares of OII stock traded down $0.60 on Wednesday, hitting $13.46. The stock had a trading volume of 762,365 shares, compared to its average volume of 1,287,296. The company has a quick ratio of 1.90, a current ratio of 2.29 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average price of $13.80 and a 200 day moving average price of $15.79. The company has a market cap of $1.41 billion, a PE ratio of -18.96 and a beta of 2.18. Oceaneering International has a one year low of $10.74 and a one year high of $21.29.
Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, October 30th. The oil and gas company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.08). The firm had revenue of $497.65 million during the quarter, compared to the consensus estimate of $527.81 million. Oceaneering International had a negative return on equity of 5.69% and a negative net margin of 7.55%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Equities research analysts expect that Oceaneering International will post -1.01 EPS for the current year.
About Oceaneering International
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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