Panagora Asset Management Inc. grew its position in Oceaneering International, Inc. (NYSE:OII – Free Report) by 9.0% during the second quarter, HoldingsChannel.com reports. The fund owned 109,121 shares of the oil and gas company’s stock after acquiring an additional 9,012 shares during the quarter. Panagora Asset Management Inc.’s holdings in Oceaneering International were worth $2,582,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of OII. Vanguard Group Inc. increased its position in Oceaneering International by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,578,957 shares of the oil and gas company’s stock worth $294,348,000 after purchasing an additional 117,503 shares during the last quarter. Earnest Partners LLC raised its holdings in Oceaneering International by 9.3% during the 1st quarter. Earnest Partners LLC now owns 5,259,951 shares of the oil and gas company’s stock valued at $123,083,000 after buying an additional 445,419 shares during the period. Dimensional Fund Advisors LP lifted its position in Oceaneering International by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,662,198 shares of the oil and gas company’s stock worth $56,654,000 after buying an additional 34,181 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Oceaneering International by 0.5% in the 1st quarter. Van ECK Associates Corp now owns 2,076,502 shares of the oil and gas company’s stock worth $48,590,000 after acquiring an additional 10,575 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Oceaneering International by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 1,696,601 shares of the oil and gas company’s stock worth $36,104,000 after purchasing an additional 19,966 shares during the period. 93.93% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Oceaneering International from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Benchmark restated a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a report on Thursday, July 25th. Finally, Citigroup upped their price objective on Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd.
View Our Latest Analysis on Oceaneering International
Oceaneering International Price Performance
Oceaneering International stock opened at $26.99 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.72 and a quick ratio of 1.42. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 25.46 and a beta of 2.39. The firm has a 50-day moving average of $25.95 and a two-hundred day moving average of $23.73. Oceaneering International, Inc. has a 1 year low of $18.67 and a 1 year high of $30.45.
Oceaneering International (NYSE:OII – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The firm had revenue of $668.81 million for the quarter, compared to the consensus estimate of $656.87 million. Oceaneering International had a return on equity of 15.78% and a net margin of 4.87%. Oceaneering International’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. On average, research analysts forecast that Oceaneering International, Inc. will post 1.4 earnings per share for the current year.
Insider Activity
In other news, Director M Kevin Mcevoy sold 9,675 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total transaction of $252,711.00. Following the transaction, the director now directly owns 141,837 shares in the company, valued at $3,704,782.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Earl Childress sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the transaction, the senior vice president now owns 57,351 shares in the company, valued at $1,473,920.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director M Kevin Mcevoy sold 9,675 shares of Oceaneering International stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total transaction of $252,711.00. Following the completion of the sale, the director now owns 141,837 shares of the company’s stock, valued at $3,704,782.44. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
About Oceaneering International
Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.
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