Hancock Holding Co. acquired a new position in shares of Oceaneering International, Inc. (NYSE:OII) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 297,955 shares of the oil and gas company’s stock, valued at approximately $6,805,000. Hancock Holding Co. owned 0.30% of Oceaneering International at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OII. Pacad Investment Ltd. grew its holdings in Oceaneering International by 231.3% during the second quarter. Pacad Investment Ltd. now owns 5,300 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 3,700 shares during the period. Westpac Banking Corp acquired a new position in Oceaneering International during the first quarter worth $144,000. LS Investment Advisors LLC grew its holdings in Oceaneering International by 18.4% during the second quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock worth $175,000 after acquiring an additional 1,188 shares during the period. Teacher Retirement System of Texas grew its holdings in Oceaneering International by 4.0% during the first quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock worth $211,000 after acquiring an additional 300 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Oceaneering International by 7.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,814 shares of the oil and gas company’s stock worth $212,000 after acquiring an additional 560 shares during the period. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Hancock Holding Co. Takes $6.81 Million Position in Oceaneering International, Inc. (OII)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another site, it was illegally stolen and reposted in violation of international copyright legislation. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/09/26/hancock-holding-co-takes-6-81-million-position-in-oceaneering-international-inc-oii.html.

Oceaneering International (NYSE:OII) last issued its earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The business had revenue of $515.04 million for the quarter, compared to analysts’ expectations of $481.86 million. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Wednesday, August 23rd. Oceaneering International’s payout ratio is -206.90%.

In related news, VP W Cardon Gerner sold 2,000 shares of Oceaneering International stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $25.76, for a total value of $51,520.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.91% of the company’s stock.

A number of research analysts recently weighed in on OII shares. Zacks Investment Research raised Oceaneering International from a “sell” rating to a “hold” rating in a report on Saturday, July 15th. Morgan Stanley lowered Oceaneering International from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $33.00 to $28.00 in a report on Wednesday, June 21st. Scotiabank set a $37.00 price objective on Oceaneering International and gave the stock a “buy” rating in a report on Tuesday, June 13th. Wolfe Research lowered Oceaneering International from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 6th. Finally, J P Morgan Chase & Co lowered their target price on Oceaneering International from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Tuesday, September 12th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Oceaneering International currently has an average rating of “Hold” and an average price target of $28.55.

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).

Institutional Ownership by Quarter for Oceaneering International (NYSE:OII)

Receive News & Stock Ratings for Oceaneering International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oceaneering International Inc. and related stocks with our FREE daily email newsletter.