Oceaneering International Inc. (OII) Stake Cut by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System lowered its position in Oceaneering International Inc. (NYSE:OII) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 26,100 shares of the company’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Oceaneering International were worth $779,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Dalton Greiner Hartman Maher & Co. bought a new stake in Oceaneering International during the second quarter worth about $13,570,000. Jacobs Levy Equity Management Inc. acquired a new stake in Oceaneering International during the first quarter valued at $7,415,000. State Street Corp increased its stake in Oceaneering International by 4.1% in the first quarter. State Street Corp now owns 3,786,218 shares of the company’s stock valued at $125,861,000 after buying an additional 150,745 shares in the last quarter. Bank of Montreal Can acquired a new stake in Oceaneering International during the second quarter valued at $4,386,000. Finally, Sprucegrove Investment Management Ltd. increased its stake in Oceaneering International by 22.1% in the second quarter. Sprucegrove Investment Management Ltd. now owns 754,100 shares of the company’s stock valued at $22,517,000 after buying an additional 136,600 shares in the last quarter. 97.80% of the stock is owned by institutional investors.
Oceaneering International Inc. (NYSE:OII) traded up 0.18% during midday trading on Friday, hitting $27.82. 1,067,162 shares of the stock traded hands. Oceaneering International Inc. has a 52-week low of $24.33 and a 52-week high of $47.99. The stock has a 50-day moving average of $26.43 and a 200 day moving average of $30.21. The firm has a market cap of $2.73 billion, a PE ratio of 19.09 and a beta of 1.57.
Oceaneering International (NYSE:OII) last released its earnings results on Thursday, July 21st. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. Oceaneering International had a return on equity of 11.41% and a net margin of 5.31%. The business had revenue of $625.50 million for the quarter, compared to analysts’ expectations of $604.16 million. Equities analysts forecast that Oceaneering International Inc. will post $0.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 26th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date was Wednesday, August 24th. Oceaneering International’s payout ratio is 73.47%.
A number of equities analysts have issued reports on OII shares. Jefferies Group set a $27.00 price objective on shares of Oceaneering International and gave the company a “hold” rating in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Evercore ISI cut shares of Oceaneering International from a “buy” rating to a “hold” rating and cut their price objective for the stock from $36.00 to $28.00 in a report on Wednesday, June 29th. JPMorgan Chase & Co. assumed coverage on shares of Oceaneering International in a report on Wednesday, June 22nd. They issued an “underweight” rating and a $23.00 price objective on the stock. Finally, Citigroup Inc. assumed coverage on shares of Oceaneering International in a report on Tuesday, September 27th. They issued a “neutral” rating and a $27.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $35.13.
About Oceaneering International
Oceaneering International, Inc is an oilfield provider of engineered services and products to the offshore oil and gas industry, with a focus on deep water applications. The Company’s business segments include services and products provided to the oil and gas industry (Oilfield), and all other services and products (Advanced Technologies).
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