Norges Bank acquired a new stake in Oceaneering International, Inc. (NYSE:OII - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 238,402 shares of the oil and gas company's stock, valued at approximately $6,218,000. Norges Bank owned approximately 0.24% of Oceaneering International as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. raised its stake in shares of Oceaneering International by 14.3% in the fourth quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company's stock valued at $74,112,000 after acquiring an additional 355,290 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Oceaneering International by 14.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 2,106,002 shares of the oil and gas company's stock valued at $54,925,000 after acquiring an additional 267,230 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Oceaneering International by 48.0% in the fourth quarter. JPMorgan Chase & Co. now owns 797,517 shares of the oil and gas company's stock worth $20,799,000 after acquiring an additional 258,588 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Oceaneering International by 191.7% in the 4th quarter. Fisher Asset Management LLC now owns 386,068 shares of the oil and gas company's stock valued at $10,069,000 after purchasing an additional 253,705 shares during the last quarter. Finally, Congress Asset Management Co. lifted its holdings in Oceaneering International by 11.2% during the 4th quarter. Congress Asset Management Co. now owns 1,736,307 shares of the oil and gas company's stock worth $45,283,000 after buying an additional 175,434 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
OII has been the subject of several recent analyst reports. Barclays decreased their target price on Oceaneering International from $26.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. TD Cowen upped their price objective on shares of Oceaneering International from $26.00 to $27.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. Pickering Energy Partners upgraded Oceaneering International from an "underperform" rating to a "neutral" rating in a research report on Wednesday, April 2nd. StockNews.com downgraded Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. Finally, Citigroup downgraded Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 price objective 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 company's stock. According to data from MarketBeat.com, Oceaneering International presently has a consensus rating of "Hold" and an average target price of $28.25.
View Our Latest Stock Analysis on OII
Oceaneering International Stock Performance
Shares of NYSE OII traded up $0.05 during mid-day trading on Tuesday, hitting $17.03. 36,007 shares of the company were exchanged, compared to its average volume of 946,394. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 11.82 and a beta of 1.94. The company has a quick ratio of 1.46, a current ratio of 1.74 and a debt-to-equity ratio of 0.67. Oceaneering International, Inc. has a 1-year low of $15.46 and a 1-year high of $30.98. The stock has a 50 day simple moving average of $21.25 and a 200-day simple moving average of $24.61.
Oceaneering International (NYSE:OII - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $713.45 million for the quarter, compared to analysts' expectations of $681.60 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. On average, sell-side analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.
Oceaneering International 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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