Franklin Resources Inc. Increases Stock Holdings in Oceaneering International, Inc. (NYSE:OII)

Franklin Resources Inc. grew its holdings in Oceaneering International, Inc. (NYSE:OII - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,039,875 shares of the oil and gas company's stock after acquiring an additional 111,095 shares during the quarter. Franklin Resources Inc. owned about 2.02% of Oceaneering International worth $53,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cornercap Investment Counsel Inc. purchased a new stake in Oceaneering International during the 4th quarter valued at approximately $202,000. Pictet Asset Management Holding SA lifted its holdings in shares of Oceaneering International by 22.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,989 shares of the oil and gas company's stock worth $417,000 after purchasing an additional 2,886 shares during the period. New Age Alpha Advisors LLC purchased a new position in Oceaneering International in the 4th quarter valued at $156,000. Norges Bank purchased a new position in Oceaneering International during the 4th quarter worth $6,218,000. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Oceaneering International by 14.5% in the 4th quarter. Loomis Sayles & Co. L P now owns 2,106,002 shares of the oil and gas company's stock worth $54,925,000 after acquiring an additional 267,230 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Oceaneering International Price Performance

Shares of NYSE OII traded down $1.64 on Thursday, hitting $16.44. The company's stock had a trading volume of 312,384 shares, compared to its average volume of 854,151. The stock has a 50 day moving average of $21.76 and a 200-day moving average of $24.78. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 11.42 and a beta of 1.94. Oceaneering International, Inc. has a 12-month low of $15.46 and a 12-month 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.

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Oceaneering International (NYSE:OII - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $713.45 million during the quarter, compared to analysts' expectations of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. As a group, research analysts predict that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on OII. Barclays lowered their price objective on Oceaneering International from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 5th. Citigroup cut Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 price objective for the company. in a research report on Friday, January 10th. StockNews.com lowered shares of Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. TD Cowen upped their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a "hold" rating in a research report on Wednesday, January 8th. Finally, Pickering Energy Partners upgraded shares of Oceaneering International from an "underperform" rating to a "neutral" rating in a research report on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $28.25.

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.