Sheets Smith Wealth Management Purchases New Shares in Oceaneering International, Inc. (NYSE:OII)

Sheets Smith Wealth Management bought a new position in Oceaneering International, Inc. (NYSE:OII - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,024 shares of the oil and gas company's stock, valued at approximately $522,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in Oceaneering International by 3,594.3% in the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company's stock worth $49,000 after buying an additional 1,905 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in Oceaneering International during the 3rd quarter worth about $57,000. GAMMA Investing LLC lifted its holdings in shares of Oceaneering International by 108.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company's stock valued at $68,000 after buying an additional 1,412 shares during the period. CWM LLC lifted its holdings in Oceaneering International by 165.5% in the third quarter. CWM LLC now owns 6,935 shares of the oil and gas company's stock valued at $172,000 after acquiring an additional 4,323 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in shares of Oceaneering International by 34.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 7,010 shares of the oil and gas company's stock worth $174,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 93.93% of the company's stock.

Oceaneering International Trading Up 0.4 %

Oceaneering International stock traded up $0.10 during midday trading on Thursday, reaching $26.46. 614,248 shares of the stock traded hands, compared to its average volume of 775,068. The firm has a market cap of $2.67 billion, a PE ratio of 20.05 and a beta of 2.41. Oceaneering International, Inc. has a 12-month low of $19.68 and a 12-month high of $30.98. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $27.06 and a two-hundred day simple moving average of $26.27.

Oceaneering International (NYSE:OII - Get Free Report) last released its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The company had revenue of $679.81 million for the quarter, compared to analyst estimates of $693.69 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts expect that Oceaneering International, Inc. will post 1.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TD Cowen lifted their price objective on Oceaneering International from $26.00 to $27.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. Barclays upgraded Oceaneering International from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $22.00 to $26.00 in a report on Wednesday, December 18th. Pickering Energy Partners cut shares of Oceaneering International from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 14th. Citigroup lowered Oceaneering International from a "buy" rating to a "neutral" rating and set a $30.00 price target for the company. in a research report on Friday, January 10th. Finally, Benchmark restated a "buy" rating and issued a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $29.25.

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.