361 Capital LLC Takes $1.78 Million Position in Oceaneering International, Inc. (OII)
361 Capital LLC purchased a new position in shares of Oceaneering International, Inc. (NYSE:OII) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 67,666 shares of the oil and gas company’s stock, valued at approximately $1,778,000. 361 Capital LLC owned about 0.07% of Oceaneering International as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Oceaneering International during the third quarter worth about $103,000. Pacad Investment Ltd. grew its holdings in shares of 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 buying an additional 3,700 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of 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 buying an additional 2,865 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of 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 buying an additional 1,188 shares during the last quarter. Finally, World Asset Management Inc purchased a new position in shares of Oceaneering International during the third quarter worth about $201,000. 99.87% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Paul B. Murphy, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the transaction, the director now directly owns 16,600 shares of the company’s stock, valued at approximately $437,244. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.91% of the company’s stock.
Oceaneering International, Inc. (NYSE:OII) traded up $0.38 during mid-day trading on Friday, hitting $19.08. 1,659,090 shares of the stock were exchanged, compared to its average volume of 2,432,043. Oceaneering International, Inc. has a 52 week low of $17.11 and a 52 week high of $32.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.14 and a current ratio of 2.67. The firm has a market cap of $1,875.16, a P/E ratio of 636.00 and a beta of 1.64.
Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The company had revenue of $476.12 million for the quarter, compared to analyst estimates of $511.14 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. Oceaneering International’s revenue was down 13.3% on a year-over-year basis. equities research analysts expect that Oceaneering International, Inc. will post -0.09 earnings per share for the current year.
A number of equities analysts recently issued reports on OII shares. Barclays PLC started coverage on Oceaneering International in a report on Friday, October 6th. They set an “equal weight” rating and a $28.00 price target on the stock. Piper Jaffray Companies reissued an “overweight” rating and set a $28.00 price target (up previously from $26.00) on shares of Oceaneering International in a report on Tuesday, October 3rd. Scotiabank set a $37.00 price objective on shares of Oceaneering International and gave the company a “buy” rating in a research report on Friday, July 28th. J P Morgan Chase & Co reduced their price objective on shares of Oceaneering International from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Tuesday, September 12th. Finally, ValuEngine upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.84.
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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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