BlackRock Advisors LLC Sells 63,243 Shares of Oceaneering International Inc. (OII)
BlackRock Advisors LLC cut its stake in Oceaneering International Inc. (NYSE:OII) by 19.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 270,158 shares of the company’s stock after selling 63,243 shares during the period. BlackRock Advisors LLC owned approximately 0.28% of Oceaneering International worth $8,067,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Boston Advisors LLC purchased a new stake in shares of Oceaneering International during the second quarter valued at $14,382,000. PGGM Investments boosted its stake in shares of Oceaneering International by 91.9% in the second quarter. PGGM Investments now owns 1,021,218 shares of the company’s stock valued at $30,494,000 after buying an additional 489,176 shares during the last quarter. Sprucegrove Investment Management Ltd. boosted its stake in shares of 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 during the last quarter. Atlanta Capital Management Co. L L C boosted its stake in shares of Oceaneering International by 1.5% in the first quarter. Atlanta Capital Management Co. L L C now owns 1,312,619 shares of the company’s stock valued at $43,632,000 after buying an additional 18,954 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Oceaneering International by 9.3% in the first quarter. Geode Capital Management LLC now owns 908,355 shares of the company’s stock valued at $30,183,000 after buying an additional 77,184 shares during the last quarter. 97.80% of the stock is currently owned by institutional investors.
Oceaneering International Inc. (NYSE:OII) opened at 28.08 on Wednesday. The stock has a market cap of $2.75 billion, a PE ratio of 19.27 and a beta of 1.57. Oceaneering International Inc. has a one year low of $24.33 and a one year high of $47.99. The stock has a 50 day moving average price of $26.38 and a 200-day moving average price of $30.11.
Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.01. The business earned $625.50 million during 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%. Equities research analysts expect that Oceaneering International Inc. will post $0.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 26th were given a $0.27 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $1.08 annualized dividend and a yield of 3.85%. Oceaneering International’s payout ratio is 73.47%.
Several equities research analysts recently weighed in on OII shares. Seaport Global Securities reaffirmed an “accumulate” rating on shares of Oceaneering International in a research note on Friday, August 19th. Royal Bank Of Canada cut their target price on Oceaneering International from $32.00 to $28.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 15th. Loop Capital initiated coverage on Oceaneering International in a research note on Friday, September 30th. They issued a “buy” rating on the stock. Stephens reissued a “top pick” rating on shares of Oceaneering International in a research note on Friday, July 15th. Finally, RBC Capital Markets set a $28.00 target price on Oceaneering International and gave the stock a “hold” rating in a research note on Thursday, September 15th. 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 company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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