Jennison Associates LLC Purchases New Position in Oceaneering International, Inc. (NYSE:OII)

Jennison Associates LLC purchased a new position in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 45,170 shares of the oil and gas company's stock, valued at approximately $1,178,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OII. R Squared Ltd bought a new stake in Oceaneering International in the 4th quarter worth approximately $40,000. Farther Finance Advisors LLC lifted its holdings in shares of Oceaneering International by 3,594.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company's stock worth $49,000 after acquiring an additional 1,905 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Oceaneering International in the 3rd quarter valued at $57,000. GAMMA Investing LLC grew its holdings in shares of Oceaneering International by 108.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company's stock valued at $68,000 after purchasing an additional 1,412 shares during the last quarter. Finally, KBC Group NV raised its position in Oceaneering International by 72.6% in the 4th quarter. KBC Group NV now owns 5,210 shares of the oil and gas company's stock worth $136,000 after purchasing an additional 2,192 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OII shares. TD Cowen raised their price objective on Oceaneering International from $26.00 to $27.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. Benchmark restated a "buy" rating and set a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th. Barclays upgraded Oceaneering International from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $22.00 to $26.00 in a research report on Wednesday, December 18th. Citigroup cut shares of Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 target price on the stock. in a report on Friday, January 10th. Finally, Pickering Energy Partners lowered shares of Oceaneering International from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Oceaneering International has a consensus rating of "Hold" and an average target price of $29.25.

Oceaneering International Trading Up 2.9 %

NYSE OII traded up $0.72 on Monday, hitting $25.42. The company's stock had a trading volume of 598,836 shares, compared to its average volume of 687,617. The firm has a market cap of $2.57 billion, a P/E ratio of 19.26 and a beta of 2.38. Oceaneering International, Inc. has a 52-week low of $19.68 and a 52-week high of $30.98. The company's 50-day simple moving average is $26.14 and its 200 day simple moving average is $26.24. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68.

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.