20,024 Shares in Oceaneering International, Inc. (NYSE:OII) Bought by Sheets Smith Wealth Management

Sheets Smith Wealth Management acquired a new stake in Oceaneering International, Inc. (NYSE:OII) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,024 shares of the oil and gas company’s stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds have also made changes to their positions in OII. Fort Washington Investment Advisors Inc. OH increased its position in Oceaneering International by 13.7% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 854,749 shares of the oil and gas company’s stock valued at $22,292,000 after acquiring an additional 102,750 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Oceaneering International by 4.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 57,698 shares of the oil and gas company’s stock worth $1,505,000 after purchasing an additional 2,240 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Oceaneering International by 12.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,850 shares of the oil and gas company’s stock worth $205,000 after purchasing an additional 840 shares during the period. Principal Financial Group Inc. grew its position in Oceaneering International by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 510,880 shares of the oil and gas company’s stock valued at $12,706,000 after buying an additional 7,037 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Oceaneering International in the 3rd quarter valued at $202,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Performance

OII opened at $26.36 on Thursday. The stock’s 50 day simple moving average is $27.06 and its 200 day simple moving average is $26.27. The stock has a market cap of $2.66 billion, a P/E ratio of 19.97 and a beta of 2.41. Oceaneering International, Inc. has a 1-year low of $19.68 and a 1-year high of $30.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The firm had revenue of $679.81 million during the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, equities analysts anticipate that Oceaneering International, Inc. will post 1.37 EPS for the current fiscal year.

Analysts Set New Price Targets

OII has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Citigroup cut Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Friday, January 10th. Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. Benchmark reaffirmed a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a report on Friday, October 25th. Finally, Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $22.00 to $26.00 in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Oceaneering International has a consensus rating of “Hold” and an average price target of $29.25.

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.