Sheets Smith Investment Management Makes New $1.24 Million Investment in Oceaneering International, Inc. (NYSE:OII)

Sheets Smith Investment Management acquired a new position in shares of Oceaneering International, Inc. (NYSE:OII) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 47,458 shares of the oil and gas company’s stock, valued at approximately $1,238,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Oceaneering International during the 4th quarter worth about $40,000. Millburn Ridgefield Corp acquired a new stake in Oceaneering International during the 3rd quarter worth about $57,000. Smartleaf Asset Management LLC raised its holdings in Oceaneering International by 354.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock worth $104,000 after buying an additional 3,157 shares during the period. KBC Group NV raised its holdings in Oceaneering International by 72.6% during the 4th quarter. KBC Group NV now owns 5,210 shares of the oil and gas company’s stock worth $136,000 after buying an additional 2,192 shares during the period. Finally, Central Pacific Bank Trust Division raised its holdings in Oceaneering International by 12.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 7,850 shares of the oil and gas company’s stock worth $205,000 after buying an additional 840 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

OII has been the topic of a number of research reports. Pickering Energy Partners downgraded Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. Barclays dropped their target price 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. StockNews.com downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Citigroup downgraded Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Friday, January 10th. Finally, TD Cowen upped their target price on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. One research 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 has a consensus rating of “Hold” and an average price target of $28.25.

Oceaneering International Trading Down 0.9 %

NYSE:OII opened at $21.55 on Monday. The stock’s 50 day moving average price is $23.62 and its 200 day moving average price is $25.25. Oceaneering International, Inc. has a 52 week low of $18.87 and a 52 week high of $30.98. The company has a market capitalization of $2.17 billion, a P/E ratio of 14.96 and a beta of 2.42. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. The firm had revenue of $713.45 million during the quarter, compared to analyst estimates of $681.60 million. On average, research analysts forecast that Oceaneering International, Inc. will post 1.78 EPS 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.