Bank of New York Mellon Corp Sells 139,767 Shares of Oceaneering International, Inc. (NYSE:OII)

Bank of New York Mellon Corp cut its position in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,052,176 shares of the oil and gas company's stock after selling 139,767 shares during the period. Bank of New York Mellon Corp owned 2.03% of Oceaneering International worth $53,521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Oceaneering International during the 4th quarter worth about $40,000. Farther Finance Advisors LLC raised its stake 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 valued at $49,000 after acquiring an additional 1,905 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Oceaneering International in the 3rd quarter valued at approximately $57,000. KBC Group NV raised its stake 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 valued at $136,000 after acquiring an additional 2,192 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Oceaneering International in the 3rd quarter valued at approximately $202,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Performance

Shares of NYSE:OII traded up $0.73 during trading on Friday, hitting $19.95. 1,389,346 shares of the stock were exchanged, compared to its average volume of 838,467. Oceaneering International, Inc. has a 1-year low of $19.01 and a 1-year high of $30.98. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 13.86 and a beta of 2.42. The company's fifty day simple moving average is $24.91 and its 200-day simple moving average is $25.68. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74.

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Oceaneering International (NYSE:OII - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 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 analyst estimates of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. Sell-side analysts expect that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on OII. Pickering Energy Partners downgraded Oceaneering International from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 14th. Citigroup downgraded Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 price target on the stock. in a research report on Friday, January 10th. TD Cowen lifted their price target on Oceaneering International from $26.00 to $27.00 and gave the stock a "hold" rating in a research report on Wednesday, January 8th. StockNews.com downgraded Oceaneering International from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. Finally, Barclays dropped their price target on Oceaneering International from $26.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Oceaneering International currently has a consensus rating of "Hold" and a consensus price target of $28.25.

About Oceaneering International

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.