Sheets Smith Investment Management Takes Position in Oceaneering International, Inc. (NYSE:OII)

Sheets Smith Investment Management bought a new stake in shares of Oceaneering International, Inc. (NYSE:OII - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 47,458 shares of the oil and gas company's stock, valued at approximately $1,238,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Natixis Advisors LLC grew its position in shares of Oceaneering International by 8.0% during the third quarter. Natixis Advisors LLC now owns 36,045 shares of the oil and gas company's stock worth $896,000 after acquiring an additional 2,657 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Oceaneering International by 18.2% during the 3rd quarter. Pathstone Holdings LLC now owns 60,417 shares of the oil and gas company's stock valued at $1,503,000 after purchasing an additional 9,316 shares during the period. Intech Investment Management LLC grew its position in Oceaneering International by 24.5% in the 3rd quarter. Intech Investment Management LLC now owns 27,084 shares of the oil and gas company's stock worth $674,000 after purchasing an additional 5,332 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Oceaneering International by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,240,577 shares of the oil and gas company's stock valued at $30,853,000 after purchasing an additional 15,678 shares during the period. Finally, Algert Global LLC raised its holdings in shares of Oceaneering International by 23.1% during the third quarter. Algert Global LLC now owns 100,013 shares of the oil and gas company's stock valued at $2,487,000 after buying an additional 18,760 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OII shares. Barclays decreased their price objective on Oceaneering International from $26.00 to $22.00 and set an "equal weight" rating for the company in a report on Wednesday, March 5th. Citigroup lowered Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 price target on the stock. in a report on Friday, January 10th. StockNews.com downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. TD Cowen increased their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Wednesday, January 8th. Finally, Pickering Energy Partners downgraded shares of Oceaneering International from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Oceaneering International has an average rating of "Hold" and an average target price of $28.25.

Oceaneering International Price Performance

Shares of Oceaneering International stock traded down $0.37 during trading on Friday, hitting $21.60. The stock had a trading volume of 639,171 shares, compared to its average volume of 846,585. The business has a fifty day moving average of $23.18 and a two-hundred day moving average of $25.17. Oceaneering International, Inc. has a fifty-two week low of $18.87 and a fifty-two week high of $30.98. The firm has a market cap of $2.17 billion, a P/E ratio of 15.00 and a beta of 2.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46.

Oceaneering International (NYSE:OII - Get Free Report) last announced 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 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, sell-side analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal 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.