UBS Asset Management Americas Inc. boosted its holdings in shares of Oceaneering International (NYSE:OII) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,267 shares of the oil and gas company’s stock after acquiring an additional 8,784 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.11% of Oceaneering International worth $2,331,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation bought a new position in Oceaneering International during the third quarter valued at approximately $100,000. Quantbot Technologies LP bought a new position in Oceaneering International during the third quarter valued at approximately $103,000. State of Alaska Department of Revenue bought a new position in Oceaneering International during the fourth quarter valued at approximately $120,000. Teacher Retirement System of Texas bought a new position in Oceaneering International during the third quarter valued at approximately $214,000. Finally, Laurel Wealth Advisors Inc. bought a new position in Oceaneering International during the third quarter valued at approximately $225,000. 99.44% of the stock is currently owned by hedge funds and other institutional investors.
OII has been the topic of several recent research reports. Royal Bank of Canada set a $22.00 price objective on shares of Oceaneering International and gave the company a “buy” rating in a research report on Thursday, December 21st. Barclays reaffirmed an “equal weight” rating on shares of Oceaneering International in a research report on Tuesday, February 27th. Cowen set a $27.00 price objective on shares of Oceaneering International and gave the company a “hold” rating in a research report on Thursday, January 11th. Loop Capital cut their price objective on shares of Oceaneering International from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, February 27th. Finally, Jefferies Group raised shares of Oceaneering International from an “underperform” rating to a “hold” rating and raised their price objective for the company from $18.82 to $19.00 in a research report on Wednesday. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $21.97.
Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $484.20 million for the quarter, compared to the consensus estimate of $435.90 million. Oceaneering International had a net margin of 8.66% and a negative return on equity of 0.49%. Oceaneering International’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. research analysts anticipate that Oceaneering International will post -0.63 earnings per share for the current year.
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Oceaneering International Company Profile
Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).
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