Geode Capital Management LLC Sells 77,593 Shares of Oceaneering International, Inc. $OII

by · The Markets Daily

Geode Capital Management LLC lessened its holdings in Oceaneering International, Inc. (NYSE:OII – Free Report) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,248,864 shares of the oil and gas company’s stock after selling 77,593 shares during the period. Geode Capital Management LLC owned approximately 2.24% of Oceaneering International worth $46,606,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Profund Advisors LLC grew its stake in shares of Oceaneering International by 3.4% in the 2nd quarter. Profund Advisors LLC now owns 17,032 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 559 shares during the period. CSM Advisors LLC acquired a new stake in Oceaneering International in the 2nd quarter valued at $291,000. Campbell & CO Investment Adviser LLC bought a new stake in Oceaneering International in the second quarter valued at $415,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Oceaneering International by 31.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 87,004 shares of the oil and gas company’s stock worth $1,803,000 after acquiring an additional 20,815 shares in the last quarter. Finally, EFG Asset Management North America Corp. lifted its holdings in shares of Oceaneering International by 16.9% during the second quarter. EFG Asset Management North America Corp. now owns 179,408 shares of the oil and gas company’s stock valued at $3,716,000 after acquiring an additional 25,937 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Oceaneering International Stock Performance

OII stock opened at $24.56 on Wednesday. The company has a 50 day moving average price of $23.80 and a 200 day moving average price of $22.41. Oceaneering International, Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $30.98. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.97 and a quick ratio of 1.68. The stock has a market capitalization of $2.45 billion, a PE ratio of 10.72 and a beta of 1.55.

Oceaneering International (NYSE:OII – Get Free Report) last released its earnings results on Wednesday, October 22nd. The oil and gas company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.42 by $0.13. The company had revenue of $742.90 million during the quarter, compared to analysts’ expectations of $709.48 million. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. Analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analyst Upgrades and Downgrades

OII has been the topic of several analyst reports. Citigroup upped their target price on shares of Oceaneering International from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Barclays raised their price objective on shares of Oceaneering International from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. TD Cowen boosted their target price on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a report on Monday, November 3rd. Finally, Zacks Research raised Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to MarketBeat, Oceaneering International currently has a consensus rating of “Hold” and an average price target of $25.00.

Get Our Latest Stock Report on Oceaneering International

About Oceaneering International

(Free Report)

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.

See Also