California Public Employees Retirement System Reduces Position in Oceaneering International, Inc. (OII)
California Public Employees Retirement System decreased its holdings in Oceaneering International, Inc. (NYSE:OII) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 348,700 shares of the oil and gas company’s stock after selling 1,800 shares during the quarter. California Public Employees Retirement System owned 0.35% of Oceaneering International worth $7,964,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in shares of Oceaneering International by 48.3% in the second quarter. SG Americas Securities LLC now owns 43,819 shares of the oil and gas company’s stock worth $1,001,000 after buying an additional 14,270 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Oceaneering International by 10.0% in the second quarter. Schroder Investment Management Group now owns 425,177 shares of the oil and gas company’s stock worth $9,635,000 after buying an additional 38,535 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Oceaneering International by 10.7% in the second quarter. Legal & General Group Plc now owns 127,910 shares of the oil and gas company’s stock worth $2,922,000 after buying an additional 12,414 shares during the last quarter. Rovida Advisors Inc. purchased a new position in shares of Oceaneering International in the second quarter worth approximately $5,137,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Oceaneering International in the first quarter worth approximately $5,186,000. 99.71% of the stock is currently owned by institutional investors.
OII has been the topic of a number of research reports. Barclays PLC initiated coverage on shares of Oceaneering International in a report on Friday, October 6th. They issued an “equal weight” rating and a $28.00 price objective on the stock. Piper Jaffray Companies reissued an “overweight” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Oceaneering International in a report on Tuesday, October 3rd. Royal Bank Of Canada reissued a “sell” rating and issued a $25.00 price objective on shares of Oceaneering International in a report on Thursday, July 20th. Scotiabank set a $37.00 price objective on shares of Oceaneering International and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, ValuEngine raised shares of Oceaneering International from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.75.
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Oceaneering International, Inc. (OII) opened at 25.42 on Thursday. The company’s market cap is $2.50 billion. The firm’s 50-day moving average is $24.91 and its 200-day moving average is $24.91. 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 for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $515.04 million for the quarter, compared to analyst estimates of $481.86 million. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The firm’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. On average, equities research analysts anticipate that Oceaneering International, Inc. will post ($0.04) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Wednesday, August 23rd. Oceaneering International’s dividend payout ratio (DPR) is presently -206.90%.
In other Oceaneering International news, VP W Cardon Gerner sold 2,000 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is owned by company insiders.
Oceaneering International 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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