Fort Washington Investment Advisors Inc. OH Reduces Holdings in Oceaneering International, Inc. $OII

Fort Washington Investment Advisors Inc. OH reduced its position in Oceaneering International, Inc. (NYSE:OII) by 38.6% in the 1st quarter, Holdings Channel reports. The firm owned 526,034 shares of the oil and gas company’s stock after selling 330,610 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Oceaneering International were worth $18,658,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Oceaneering International by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock worth $297,279,000 after buying an additional 187,707 shares in the last quarter. State Street Corp boosted its position in Oceaneering International by 4.9% during the fourth quarter. State Street Corp now owns 4,647,252 shares of the oil and gas company’s stock worth $111,673,000 after acquiring an additional 215,366 shares during the last quarter. Morgan Stanley Institutional Investment Advisors LLC acquired a new position in Oceaneering International during the fourth quarter worth about $94,847,000. American Century Companies Inc. grew its stake in Oceaneering International by 8.1% during 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 acquiring an additional 272,667 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Oceaneering International by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,477,068 shares of the oil and gas company’s stock valued at $83,556,000 after acquiring an additional 191,117 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Performance

Oceaneering International stock opened at $39.84 on Monday. The firm has a 50 day simple moving average of $37.90 and a 200-day simple moving average of $33.62. Oceaneering International, Inc. has a 1-year low of $20.21 and a 1-year high of $40.21. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.08 and a quick ratio of 1.79. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 11.82 and a beta of 1.16.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The firm had revenue of $692.43 million for the quarter, compared to analyst estimates of $671.35 million. During the same quarter in the prior year, the business earned $0.43 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts expect that Oceaneering International, Inc. will post 1.89 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on OII shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. Citigroup upped their price target on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Zacks Research downgraded Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Barclays boosted their price objective on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, TD Cowen raised their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Oceaneering International has an average rating of “Hold” and a consensus target price of $38.33.

Insider Transactions at Oceaneering International

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the sale, the chief executive officer owned 397,279 shares in the company, valued at $15,203,867.33. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Oceaneering International Profile

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.