Geode Capital Management LLC Sells 7,937 Shares of Oceaneering International, Inc. (OII)
Geode Capital Management LLC reduced its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 779,835 shares of the oil and gas company’s stock after selling 7,937 shares during the period. Geode Capital Management LLC owned approximately 0.79% of Oceaneering International worth $21,117,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. Westpac Banking Corp purchased a new position in Oceaneering International during the first quarter worth $144,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Oceaneering International by 101.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,731 shares of the oil and gas company’s stock worth $157,000 after buying an additional 2,880 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Oceaneering International during the fourth quarter valued at approximately $205,000. Teacher Retirement System of Texas boosted its position in shares of Oceaneering International by 4.0% in the first quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 300 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. boosted its position in shares of Oceaneering International by 8.2% in the first quarter. Bbva Compass Bancshares Inc. now owns 10,613 shares of the oil and gas company’s stock valued at $288,000 after buying an additional 808 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.
Oceaneering International, Inc. (OII) traded down 2.04% during trading on Monday, reaching $25.51. 1,108,194 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $23.62 and its 200 day moving average price is $25.85. The firm’s market cap is $2.52 billion. Oceaneering International, Inc. has a 52-week low of $20.74 and a 52-week high of $32.12.
Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $515.04 million for the quarter, compared to the consensus estimate of $481.86 million. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. Equities research analysts anticipate that Oceaneering International, Inc. will post ($0.03) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 2.35%. Oceaneering International’s payout ratio is -206.90%.
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A number of brokerages have issued reports on OII. Zacks Investment Research cut shares of Oceaneering International from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Jefferies Group LLC reissued a “hold” rating and issued a $25.00 target price on shares of Oceaneering International in a report on Tuesday, April 11th. Scotiabank reissued a “buy” rating and issued a $37.00 target price on shares of Oceaneering International in a report on Friday, April 28th. Cowen and Company set a $28.00 price target on shares of Oceaneering International and gave the company a “hold” rating in a research note on Friday. Finally, Royal Bank Of Canada reiterated a “sell” rating and set a $30.00 price objective on shares of Oceaneering International in a research note on Friday, April 21st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Oceaneering International presently has an average rating of “Hold” and a consensus price target of $28.50.
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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