South Dakota Investment Council Makes New Investment in Oceaneering International, Inc. $OII

South Dakota Investment Council acquired a new stake in shares of Oceaneering International, Inc. (NYSE:OII) during the third quarter, Holdings Channel.com reports. The fund acquired 41,600 shares of the oil and gas company’s stock, valued at approximately $1,031,000.

A number of other institutional investors have also made changes to their positions in OII. Fisher Asset Management LLC grew its holdings in Oceaneering International by 11.6% during the 3rd quarter. Fisher Asset Management LLC now owns 639,884 shares of the oil and gas company’s stock valued at $15,856,000 after purchasing an additional 66,554 shares in the last quarter. American Century Companies Inc. boosted its position in Oceaneering International by 8.1% in the 3rd quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company’s stock valued at $90,270,000 after buying an additional 272,667 shares during the last quarter. R Squared Ltd acquired a new position in shares of Oceaneering International in the third quarter worth about $229,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Oceaneering International by 3.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,960 shares of the oil and gas company’s stock valued at $2,229,000 after purchasing an additional 2,956 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Oceaneering International by 119.7% in the third quarter. Intech Investment Management LLC now owns 174,161 shares of the oil and gas company’s stock valued at $4,316,000 after purchasing an additional 94,903 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on OII shares. Barclays upped their target price on Oceaneering International from $23.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, March 1st. TD Cowen boosted their target price on shares of Oceaneering International from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Weiss Ratings raised shares of Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.33.

Oceaneering International Stock Down 2.0%

OII stock opened at $34.44 on Friday. The company has a quick ratio of 1.72, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $30.41 and its 200 day simple moving average is $26.35. The stock has a market cap of $3.42 billion, a PE ratio of 9.84 and a beta of 1.18. Oceaneering International, Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $39.00.

Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $668.57 million for the quarter, compared to analyst estimates of $678.16 million. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. As a group, sell-side analysts predict that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Insider Transactions at Oceaneering International

In other news, SVP Christopher J. Dyer sold 6,000 shares of Oceaneering International stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $38.08, for a total transaction of $228,480.00. Following the transaction, the senior vice president directly owned 15,902 shares in the company, valued at approximately $605,548.16. This trade represents a 27.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Holly Kriendler sold 5,798 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $37.31, for a total value of $216,323.38. Following the transaction, the senior vice president directly owned 24,702 shares of the company’s stock, valued at $921,631.62. This represents a 19.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 140,844 shares of company stock valued at $4,972,594 over the last three months. 2.10% of the stock is owned by company insiders.

About Oceaneering International

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.