Mitsubishi UFJ Asset Management Co. Ltd. cut its holdings in Oceaneering International, Inc. (NYSE:OII - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,523 shares of the oil and gas company's stock after selling 11,817 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.06% of Oceaneering International worth $1,742,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Oceaneering International during the fourth quarter valued at approximately $40,000. Millburn Ridgefield Corp bought a new stake in Oceaneering International during the 3rd quarter valued at $57,000. Smartleaf Asset Management LLC increased its holdings in shares of Oceaneering International by 354.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company's stock valued at $104,000 after acquiring an additional 3,157 shares during the period. KBC Group NV raised its position in shares of 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 acquiring an additional 2,192 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in shares of Oceaneering International by 12.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 7,850 shares of the oil and gas company's stock worth $205,000 after acquiring an additional 840 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.
Wall Street Analyst Weigh In
OII has been the topic of a number of recent analyst reports. StockNews.com cut shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. Pickering Energy Partners raised Oceaneering International from an "underperform" rating to a "neutral" rating in a research report on Wednesday. TD Cowen raised 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, January 8th. Barclays reduced their target price on Oceaneering International from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Finally, Citigroup downgraded Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 price target for the company. in a report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.25.
Read Our Latest Research Report on Oceaneering International
Oceaneering International Stock Performance
OII stock traded down $2.54 during midday trading on Friday, hitting $17.10. 1,814,238 shares of the stock traded hands, compared to its average volume of 845,125. Oceaneering International, Inc. has a 1-year low of $16.68 and a 1-year high of $30.98. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46. The stock's fifty day simple moving average is $22.59 and its 200-day simple moving average is $25.08. The firm has a market cap of $1.73 billion, a P/E ratio of 11.87 and a beta of 1.94.
Oceaneering International (NYSE:OII - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The business had revenue of $713.45 million during the quarter, compared to analyst estimates of $681.60 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. On average, analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.
Oceaneering International Company Profile
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Free Report)
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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