Riverhead Capital Management LLC Has $1.57 Million Holdings in Oceaneering International, Inc. (OII)
Riverhead Capital Management LLC lowered its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 23.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 68,527 shares of the oil and gas company’s stock after selling 21,426 shares during the period. Riverhead Capital Management LLC owned approximately 0.07% of Oceaneering International worth $1,565,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in Oceaneering International by 48.3% during the 2nd quarter. SG Americas Securities LLC now owns 43,819 shares of the oil and gas company’s stock valued at $1,001,000 after purchasing an additional 14,270 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Oceaneering International by 6.5% during the 1st quarter. Capstone Asset Management Co. now owns 11,558 shares of the oil and gas company’s stock valued at $313,000 after purchasing an additional 710 shares during the last quarter. Oxford Asset Management acquired a new position in Oceaneering International during the 1st quarter valued at about $1,148,000. Mason Street Advisors LLC boosted its stake in Oceaneering International by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 46,331 shares of the oil and gas company’s stock valued at $1,255,000 after purchasing an additional 562 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Oceaneering International by 2.0% during the 1st quarter. Nationwide Fund Advisors now owns 177,448 shares of the oil and gas company’s stock valued at $4,805,000 after purchasing an additional 3,408 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.
Oceaneering International, Inc. (NYSE:OII) opened at 25.80 on Friday. The company’s market cap is $2.54 billion. The firm’s 50 day moving average is $23.94 and its 200 day moving average is $25.00. Oceaneering International, Inc. has a 52-week low of $20.74 and a 52-week high of $32.12.
Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. The firm had revenue of $515.04 million for the quarter, compared to analysts’ expectations of $481.86 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. Analysts forecast that Oceaneering International, Inc. will post ($0.04) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, August 23rd. Oceaneering International’s payout ratio is -206.90%.
A number of equities analysts have issued reports on the company. BidaskClub downgraded Oceaneering International from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Royal Bank Of Canada reiterated a “sell” rating and set a $25.00 price target on shares of Oceaneering International in a research note on Thursday, July 20th. Seaport Global Securities downgraded Oceaneering International from a “neutral” rating to a “sell” rating and cut their price target for the company from $24.00 to $19.00 in a research note on Wednesday, June 21st. Piper Jaffray Companies set a $26.00 price target on Oceaneering International and gave the company a “buy” rating in a research note on Sunday, July 30th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $25.00 price target on shares of Oceaneering International in a research note on Monday, June 19th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $28.55.
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Oceaneering International Company 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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