JPMorgan Chase & Co. Lowers Holdings in Oceaneering International, Inc. (NYSE:OII)

JPMorgan Chase & Co. trimmed its position in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 538,929 shares of the oil and gas company's stock after selling 19,100 shares during the period. JPMorgan Chase & Co. owned about 0.53% of Oceaneering International worth $13,403,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in Oceaneering International during the 2nd quarter worth approximately $38,000. Farther Finance Advisors LLC grew its position in Oceaneering International by 3,594.3% during 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 bought a new position in Oceaneering International during the 3rd quarter worth approximately $57,000. GAMMA Investing LLC grew its position in 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 worth $68,000 after acquiring an additional 1,412 shares during the last quarter. Finally, CWM LLC grew its position in Oceaneering International by 165.5% during the 3rd quarter. CWM LLC now owns 6,935 shares of the oil and gas company's stock worth $172,000 after acquiring an additional 4,323 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OII shares. 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 lifted their price objective for the stock from $22.00 to $26.00 in a research report on Wednesday, December 18th. TD Cowen lifted their price objective on Oceaneering International from $26.00 to $27.00 and gave the stock a "hold" rating in a research report on Wednesday. Finally, Citigroup lowered Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 price objective on the stock. in a research report on Friday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.25.

Oceaneering International Stock Down 2.4 %

Shares of OII traded down $0.66 on Friday, reaching $26.44. The stock had a trading volume of 952,923 shares, compared to its average volume of 679,504. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 20.03 and a beta of 2.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. The company has a 50-day simple moving average of $27.23 and a 200-day simple moving average of $26.13. Oceaneering International, Inc. has a 12-month low of $18.95 and a 12-month high of $30.98.

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

Oceaneering International Company 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.