HAP Trading LLC Buys New Stake in Oceaneering International, Inc. (OII)
HAP Trading LLC purchased a new stake in Oceaneering International, Inc. (NYSE:OII) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,352 shares of the oil and gas company’s stock, valued at approximately $373,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Westpac Banking Corp purchased a new position in Oceaneering International in the first quarter valued at about $144,000. Pacad Investment Ltd. boosted its holdings in Oceaneering International by 231.3% in the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 3,700 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in Oceaneering International by 18.4% in the second quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock valued at $175,000 after purchasing an additional 1,188 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Oceaneering International by 4.0% in the first quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 300 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Oceaneering International by 7.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,814 shares of the oil and gas company’s stock valued at $212,000 after purchasing an additional 560 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Oceaneering International, Inc. (NYSE OII) traded up 1.38% during mid-day trading on Wednesday, hitting $25.71. The stock had a trading volume of 175,682 shares. Oceaneering International, Inc. has a one year low of $20.74 and a one year high of $32.12. The firm has a 50 day moving average of $23.85 and a 200 day moving average of $25.03. The stock’s market cap is $2.53 billion.
Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $515.04 million for the quarter, compared to the consensus estimate of $481.86 million. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The firm’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share. On average, analysts forecast that Oceaneering International, Inc. will post ($0.04) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, August 23rd. Oceaneering International’s payout ratio is -206.90%.
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A number of research analysts recently commented on OII shares. Royal Bank Of Canada reissued a “sell” rating and issued a $25.00 price target on shares of Oceaneering International in a report on Thursday, July 20th. Jefferies Group LLC set a $25.00 price target on Oceaneering International and gave the company a “hold” rating in a report on Wednesday, May 17th. Scotiabank set a $37.00 price target on Oceaneering International and gave the company a “buy” rating in a report on Friday, July 28th. ValuEngine raised Oceaneering International from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Seaport Global Securities downgraded Oceaneering International from a “neutral” rating to a “sell” rating and reduced their price target for the company from $24.00 to $19.00 in a report on Wednesday, June 21st. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $28.55.
Oceaneering International Profile
Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).
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