Franklin Resources Inc. Acquires 57,193 Shares of Oceaneering International, Inc. (NYSE:OII)

Franklin Resources Inc. increased its stake in Oceaneering International, Inc. (NYSE:OII - Free Report) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,928,780 shares of the oil and gas company's stock after buying an additional 57,193 shares during the period. Franklin Resources Inc. owned 1.91% of Oceaneering International worth $49,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its stake in shares of Oceaneering International by 29.0% in the third quarter. Tidal Investments LLC now owns 13,057 shares of the oil and gas company's stock worth $325,000 after acquiring an additional 2,933 shares during the last quarter. Geode Capital Management LLC boosted its stake in Oceaneering International by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,279,039 shares of the oil and gas company's stock worth $56,691,000 after purchasing an additional 26,328 shares in the last quarter. Barclays PLC grew its position in Oceaneering International by 334.5% during the 3rd quarter. Barclays PLC now owns 180,470 shares of the oil and gas company's stock valued at $4,489,000 after purchasing an additional 138,931 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Oceaneering International during the 3rd quarter valued at about $395,000. Finally, Jane Street Group LLC raised its holdings in Oceaneering International by 5.4% in the third quarter. Jane Street Group LLC now owns 130,145 shares of the oil and gas company's stock worth $3,237,000 after buying an additional 6,630 shares during the last quarter. Institutional investors own 93.93% of the company's stock.

Oceaneering International Stock Performance

Oceaneering International stock traded down $0.66 during midday trading on Wednesday, reaching $24.63. 1,205,610 shares of the company traded hands, compared to its average volume of 817,355. Oceaneering International, Inc. has a 12 month low of $18.95 and a 12 month high of $30.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. The business has a 50 day moving average of $26.81 and a two-hundred day moving average of $25.58. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 18.66 and a beta of 2.39.

Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.08). The firm had revenue of $679.81 million for the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. Oceaneering International's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, research analysts predict that Oceaneering International, Inc. will post 1.4 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on OII. Benchmark reiterated a "buy" rating and set a $34.00 target price on shares of Oceaneering International in a research note on Friday, October 25th. Barclays raised Oceaneering International from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $22.00 to $26.00 in a research report on Wednesday.

Oceaneering International Profile

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.