Oceaneering International Inc. (OII) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. increased its position in shares of Oceaneering International Inc. (NYSE:OII) by 12.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,199 shares of the company’s stock after buying an additional 41,227 shares during the period. Principal Financial Group Inc. owned 0.38% of Oceaneering International worth $11,173,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. Utah Retirement Systems raised its stake in shares of Oceaneering International by 0.6% in the second quarter. Utah Retirement Systems now owns 17,782 shares of the company’s stock worth $531,000 after buying an additional 100 shares during the last quarter. State Treasurer State of Michigan raised its stake in shares of Oceaneering International by 0.8% in the second quarter. State Treasurer State of Michigan now owns 39,400 shares of the company’s stock worth $1,176,000 after buying an additional 300 shares during the last quarter. I.G. Investment Management LTD. raised its stake in shares of Oceaneering International by 1.3% in the second quarter. I.G. Investment Management LTD. now owns 37,566 shares of the company’s stock worth $1,122,000 after buying an additional 480 shares during the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Oceaneering International by 7.0% in the second quarter. First Citizens Bank & Trust Co. now owns 8,263 shares of the company’s stock worth $247,000 after buying an additional 541 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Oceaneering International by 11.1% in the second quarter. GSA Capital Partners LLP now owns 6,966 shares of the company’s stock worth $208,000 after buying an additional 698 shares during the last quarter. Institutional investors own 97.80% of the company’s stock.
Oceaneering International Inc. (NYSE:OII) opened at 27.45 on Thursday. The firm’s 50-day moving average is $26.37 and its 200-day moving average is $30.10. Oceaneering International Inc. has a 52-week low of $24.33 and a 52-week high of $47.99. The firm has a market capitalization of $2.69 billion, a PE ratio of 18.84 and a beta of 1.57.
Oceaneering International (NYSE:OII) last announced its earnings results on Thursday, July 21st. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. The business earned $625.50 million during the quarter, compared to analyst estimates of $604.16 million. Oceaneering International had a net margin of 5.31% and a return on equity of 11.41%. On average, analysts anticipate that Oceaneering International Inc. will post $0.76 earnings per share 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 $0.27 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.91%. Oceaneering International’s payout ratio is 73.47%.
Several research firms have recently commented on OII. Jefferies Group set a $27.00 price target on shares of Oceaneering International and gave the company a “hold” rating in a report on Monday, July 25th. Zacks Investment Research upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Evercore ISI lowered shares of Oceaneering International from a “buy” rating to a “hold” rating and reduced their price target for the company from $36.00 to $28.00 in a report on Wednesday, June 29th. JPMorgan Chase & Co. began coverage on shares of Oceaneering International in a research note on Wednesday, June 22nd. They set an “underweight” rating and a $23.00 price objective for the company. Finally, Citigroup Inc. began coverage on shares of Oceaneering International in a research note on Tuesday, September 27th. They set a “neutral” rating and a $27.00 price objective for the company. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Oceaneering International 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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