The Manufacturers Life Insurance Company Makes New Investment in Oceaneering International, Inc. $OII

The Manufacturers Life Insurance Company acquired a new position in shares of Oceaneering International, Inc. (NYSE:OII) in the 2nd quarter, HoldingsChannel reports. The fund acquired 49,067 shares of the oil and gas company’s stock, valued at approximately $1,988,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Oceaneering International during the 2nd quarter valued at $664,659,000. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 187,707 shares in the last quarter. State Street Corp grew its holdings in Oceaneering International by 4.9% in 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 purchasing an additional 215,366 shares during the period. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in Oceaneering International in the fourth quarter worth $94,847,000. Finally, Dimensional Fund Advisors LP increased its stake in Oceaneering International by 5.8% in the fourth 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 purchasing an additional 191,117 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Up 0.6%

Shares of NYSE OII opened at $51.65 on Thursday. The stock has a market capitalization of $5.14 billion, a P/E ratio of 14.84 and a beta of 1.17. The company has a 50-day moving average price of $46.83 and a 200-day moving average price of $40.28. Oceaneering International, Inc. has a 1 year low of $22.02 and a 1 year high of $54.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.17. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The company had revenue of $768.18 million for the quarter, compared to analyst estimates of $735.69 million. During the same quarter in the prior year, the business posted $0.49 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts forecast that Oceaneering International, Inc. will post 2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on OII shares. Wall Street Zen lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings raised Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Citigroup upped their price target on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, Barclays increased their price target on Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.00.

Insider Buying and Selling

In related news, Director M Kevin Mcevoy sold 3,000 shares of Oceaneering International stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.92, for a total transaction of $143,760.00. Following the transaction, the director owned 134,133 shares of the company’s stock, valued at $6,427,653.36. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Earl Childress sold 12,701 shares of Oceaneering International stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total value of $593,263.71. Following the transaction, the senior vice president directly owned 22,876 shares in the company, valued at approximately $1,068,537.96. The trade was a 35.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 26,901 shares of company stock valued at $1,277,904. Company insiders own 1.30% of the company’s stock.

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.