QRG Capital Management Inc. Invests $754,000 in Oceaneering International, Inc. $OII

QRG Capital Management Inc. bought a new stake in shares of Oceaneering International, Inc. (NYSE:OII) in the first quarter, Holdings Channel reports. The institutional investor bought 21,263 shares of the oil and gas company’s stock, valued at approximately $754,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Oceaneering International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock valued at $1,312,000 after purchasing an additional 2,633 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Oceaneering International by 1.9% in the 1st quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock worth $2,634,000 after buying an additional 2,310 shares in the last quarter. Strs Ohio purchased a new position in shares of Oceaneering International in the 1st quarter worth $168,000. Norges Bank bought a new stake in shares of Oceaneering International in the 2nd quarter worth about $1,485,000. Finally, Invesco Ltd. increased its holdings in shares of Oceaneering International by 8.0% in the 2nd quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock worth $13,472,000 after buying an additional 48,382 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Down 1.2%

NYSE:OII opened at $40.68 on Friday. Oceaneering International, Inc. has a twelve month low of $20.21 and a twelve month high of $41.49. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 12.07 and a beta of 1.15. The stock has a fifty day simple moving average of $38.27 and a 200-day simple moving average of $34.52. The company has a current ratio of 2.08, a quick ratio of 1.79 and a debt-to-equity ratio of 0.44.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. Analysts anticipate that Oceaneering International, Inc. will post 1.89 EPS for the current year.

Insider Transactions at Oceaneering International

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the sale, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. The trade was a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Citigroup increased their price target on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. Barclays upped their price objective on Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, TD Cowen raised their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.33.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.