Oceaneering International, Inc. (OII) Position Cut by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC trimmed its holdings in Oceaneering International, Inc. (NYSE:OII) by 37.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 652,069 shares of the oil and gas company’s stock after selling 395,452 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.66% of Oceaneering International worth $14,893,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of OII. BlackRock Inc. grew its holdings in Oceaneering International by 10,555.3% in the 1st quarter. BlackRock Inc. now owns 8,513,376 shares of the oil and gas company’s stock worth $230,542,000 after buying an additional 8,433,478 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Oceaneering International by 91.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,015,114 shares of the oil and gas company’s stock worth $81,648,000 after buying an additional 1,443,300 shares in the last quarter. Teachers Advisors LLC grew its holdings in Oceaneering International by 131.6% in the 1st quarter. Teachers Advisors LLC now owns 967,472 shares of the oil and gas company’s stock worth $26,199,000 after buying an additional 549,786 shares in the last quarter. Eaton Vance Management grew its holdings in Oceaneering International by 20.4% in the 2nd quarter. Eaton Vance Management now owns 3,068,529 shares of the oil and gas company’s stock worth $70,085,000 after buying an additional 519,289 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Oceaneering International by 618.8% in the 2nd quarter. Alliancebernstein L.P. now owns 451,840 shares of the oil and gas company’s stock worth $10,320,000 after buying an additional 388,976 shares in the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.
In related news, Director Paul B. Murphy, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the sale, the director now owns 16,600 shares of the company’s stock, valued at $437,244. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.91% of the company’s stock.
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Shares of Oceaneering International, Inc. (OII) opened at 25.26 on Friday. The firm’s market capitalization is $2.48 billion. Oceaneering International, Inc. has a 52-week low of $20.74 and a 52-week high of $32.12. The firm has a 50-day moving average price of $24.67 and a 200-day moving average price of $24.92.
Oceaneering International (NYSE:OII) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $515.04 million during the quarter, compared to analyst estimates of $481.86 million. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. Oceaneering International’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. On average, equities research analysts anticipate that Oceaneering International, Inc. will post ($0.04) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Wednesday, August 23rd. Oceaneering International’s dividend payout ratio is currently -206.90%.
OII has been the subject of a number of recent analyst reports. Scotiabank set a $37.00 price objective on Oceaneering International and gave the stock a “buy” rating in a report on Friday, July 28th. Piper Jaffray Companies set a $26.00 price objective on Oceaneering International and gave the stock a “buy” rating in a report on Sunday, July 30th. Barclays PLC initiated coverage on Oceaneering International in a report on Friday. They issued an “equal weight” rating and a $28.00 price objective for the company. BidaskClub raised Oceaneering International from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research raised Oceaneering International from a “sell” rating to a “hold” rating in a report on Saturday, July 15th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.82.
About Oceaneering International
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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