Teacher Retirement System of Texas Sells 2,117 Shares of Oceaneering International Inc. (OII)
Teacher Retirement System of Texas lowered its stake in shares of Oceaneering International Inc. (NYSE:OII) by 13.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,770 shares of the company’s stock after selling 2,117 shares during the period. Teacher Retirement System of Texas’ holdings in Oceaneering International were worth $411,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Riverhead Capital Management LLC boosted its stake in Oceaneering International by 40.7% in the first quarter. Riverhead Capital Management LLC now owns 120,805 shares of the company’s stock worth $4,016,000 after buying an additional 34,953 shares during the last quarter. UBS Group AG boosted its stake in Oceaneering International by 38.3% in the first quarter. UBS Group AG now owns 99,808 shares of the company’s stock worth $3,318,000 after buying an additional 27,622 shares during the last quarter. State Street Corp boosted 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 worth $125,861,000 after buying an additional 150,745 shares during the last quarter. Zebra Capital Management LLC acquired a new stake in Oceaneering International during the first quarter worth about $769,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in Oceaneering International by 79.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 50,400 shares of the company’s stock worth $1,675,000 after buying an additional 22,300 shares during the last quarter. 97.80% of the stock is owned by hedge funds and other institutional investors.
Shares of Oceaneering International Inc. (NYSE:OII) traded up 0.18% on Friday, reaching $27.82. The company’s stock had a trading volume of 1,067,162 shares. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 19.09 and a beta of 1.57. The stock has a 50 day moving average of $26.43 and a 200-day moving average of $30.21. Oceaneering International Inc. has a 12 month low of $24.33 and a 12 month high of $47.99.
Oceaneering International (NYSE:OII) last posted its earnings results on Thursday, July 21st. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.01. The company had revenue of $625.50 million for the quarter, compared to analysts’ expectations of $604.16 million. Oceaneering International had a return on equity of 11.41% and a net margin of 5.31%. On average, analysts anticipate that Oceaneering International Inc. will post $0.76 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 26th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.08 annualized dividend and a dividend yield of 3.88%. Oceaneering International’s dividend payout ratio is currently 73.47%.
A number of analysts have recently issued reports on the company. Jefferies Group set a $27.00 price objective on Oceaneering International and gave the company a “hold” rating in a research report on Monday, July 25th. Zacks Investment Research upgraded Oceaneering International from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Evercore ISI lowered Oceaneering International from a “buy” rating to a “hold” rating and lowered their target price for the stock from $36.00 to $28.00 in a research note on Wednesday, June 29th. JPMorgan Chase & Co. started coverage on Oceaneering International in a research note on Wednesday, June 22nd. They set an “underweight” rating and a $23.00 target price on the stock. Finally, Citigroup Inc. started coverage on Oceaneering International in a research note on Tuesday, September 27th. They set a “neutral” rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Oceaneering International currently has a consensus 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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