Intech Investment Management LLC Boosts Stake in Oceaneering International, Inc. $OII

Intech Investment Management LLC lifted its holdings in Oceaneering International, Inc. (NYSE:OII) by 71.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 298,125 shares of the oil and gas company’s stock after purchasing an additional 123,964 shares during the quarter. Intech Investment Management LLC’s holdings in Oceaneering International were worth $7,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Oceaneering International by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after buying an additional 187,707 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Oceaneering International by 8.1% in the third quarter. American Century Companies Inc. now owns 3,642,873 shares of the oil and gas company’s stock valued at $90,270,000 after buying an additional 272,667 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Oceaneering International by 3.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,285,951 shares of the oil and gas company’s stock worth $81,429,000 after purchasing an additional 98,333 shares in the last quarter. Geode Capital Management LLC boosted its position in Oceaneering International by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 2,304,738 shares of the oil and gas company’s stock worth $55,396,000 after purchasing an additional 51,871 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in Oceaneering International by 916.6% during the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock worth $28,219,000 after purchasing an additional 1,227,950 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

OII has been the topic of a number of research analyst reports. TD Cowen boosted their target price on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Zacks Research downgraded Oceaneering International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Citigroup boosted their target price on Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.67.

Oceaneering International Stock Performance

NYSE OII opened at $38.20 on Friday. Oceaneering International, Inc. has a fifty-two week low of $18.80 and a fifty-two week high of $40.12. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 11.33 and a beta of 1.17. The business has a fifty day moving average of $37.13 and a 200-day moving average of $31.68. The company has a quick ratio of 1.79, a current ratio of 2.08 and a debt-to-equity ratio of 0.44.

Oceaneering International (NYSE:OII) last released its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.The company had revenue of $692.43 million during the quarter, compared to analyst estimates of $671.35 million. During the same period last year, the firm earned $0.43 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that Oceaneering International, Inc. will post 1.89 earnings per share for the current fiscal year.

Oceaneering International 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.