Van ECK Associates Corp cut its holdings in Oceaneering International (NYSE:OII) by 20.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,418,088 shares of the oil and gas company’s stock after selling 360,674 shares during the period. Van ECK Associates Corp owned 1.44% of Oceaneering International worth $36,105,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in OII. LPL Financial LLC acquired a new position in shares of Oceaneering International during the 1st quarter valued at $186,000. Boys Arnold & Co. Inc. bought a new position in Oceaneering International in the second quarter valued at approximately $204,000. Meridian Management Co. bought a new position in Oceaneering International in the second quarter valued at approximately $204,000. Bbva Compass Bancshares Inc. bought a new position in Oceaneering International in the second quarter valued at approximately $226,000. Finally, Unison Advisors LLC bought a new position in Oceaneering International in the second quarter valued at approximately $234,000.
In related news, Director T Jay Collins sold 16,750 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $26.50, for a total transaction of $443,875.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.
A number of research analysts have weighed in on OII shares. Goldman Sachs Group raised shares of Oceaneering International from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Monday, May 14th. Wells Fargo & Co raised shares of Oceaneering International from an “underperform” rating to a “market perform” rating and set a $17.00 price target on the stock in a research note on Thursday, May 24th. ValuEngine raised shares of Oceaneering International from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Zacks Investment Research raised shares of Oceaneering International from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, July 16th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $28.00 price target on shares of Oceaneering International in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.33.
Shares of OII stock opened at $26.51 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.17 and a current ratio of 2.61. The firm has a market capitalization of $2.69 billion, a PE ratio of -378.71 and a beta of 1.38. Oceaneering International has a 12 month low of $17.11 and a 12 month high of $28.62.
Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, July 25th. The oil and gas company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.03. The business had revenue of $479.00 million for the quarter, compared to the consensus estimate of $448.96 million. Oceaneering International had a net margin of 4.83% and a negative return on equity of 4.31%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share. analysts anticipate that Oceaneering International will post -1.01 earnings per share for the current fiscal year.
About Oceaneering International
Oceaneering International, Inc provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.
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