Eagle Asset Management Inc. Cuts Stake in Oceaneering International (OII)
Eagle Asset Management Inc. decreased its position in Oceaneering International (NYSE:OII) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 508,633 shares of the oil and gas company’s stock after selling 59,082 shares during the quarter. Eagle Asset Management Inc. owned 0.52% of Oceaneering International worth $10,678,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Zions Bancorporation acquired a new stake in Oceaneering International during the third quarter worth approximately $100,000. Quantbot Technologies LP acquired a new stake in Oceaneering International during the third quarter worth approximately $103,000. State of Alaska Department of Revenue acquired a new stake in Oceaneering International during the fourth quarter worth approximately $120,000. Meeder Asset Management Inc. raised its holdings in Oceaneering International by 121.2% during the third quarter. Meeder Asset Management Inc. now owns 5,229 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 2,865 shares in the last quarter. Finally, World Asset Management Inc acquired a new stake in Oceaneering International during the third quarter worth approximately $201,000. 99.44% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on OII shares. Capital One Financial cut shares of Oceaneering International from an “overweight” rating to an “equal weight” rating in a report on Thursday, November 16th. Royal Bank of Canada set a $22.00 target price on shares of Oceaneering International and gave the company a “buy” rating in a report on Thursday, December 21st. Zacks Investment Research cut shares of Oceaneering International from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Jefferies Group cut shares of Oceaneering International from a “hold” rating to an “underperform” rating and set a $18.00 target price on the stock. in a report on Thursday, January 4th. Finally, Cowen set a $27.00 target price on shares of Oceaneering International and gave the company a “hold” rating in a report on Thursday, January 11th. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Oceaneering International presently has an average rating of “Hold” and an average target price of $21.97.
Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $484.20 million for the quarter, compared to analyst estimates 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 period last year, the firm posted $0.03 EPS. equities research analysts anticipate that Oceaneering International will post -0.56 earnings per share for the current year.
About Oceaneering International
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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