Liberty Mutual Group Asset Management Inc. raised its stake in Oceaneering International, Inc. (NYSE:OII) by 5.7% during the first quarter, Holdings Channel reports. The fund owned 43,416 shares of the oil and gas company’s stock after buying an additional 2,323 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Oceaneering International were worth $1,176,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Westpac Banking Corp acquired a new position in shares of Oceaneering International during the first quarter valued at approximately $144,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of 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 valued at $157,000 after buying an additional 2,880 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Oceaneering International during the fourth quarter valued at approximately $201,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Oceaneering International during the fourth quarter valued at approximately $205,000. Finally, 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. Institutional investors and hedge funds own 99.01% of the company’s stock.
Shares of Oceaneering International, Inc. (OII) opened at 21.03 on Friday. Oceaneering International, Inc. has a 52 week low of $20.74 and a 52 week high of $32.30. The firm has a 50-day moving average of $25.46 and a 200-day moving average of $27.06. The firm’s market cap is $2.07 billion.
Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, April 26th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $446.18 million for the quarter, compared to the consensus estimate of $459.57 million. Oceaneering International had a negative net margin of 0.38% and a positive return on equity of 2.72%. The business’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 EPS. On average, analysts expect that Oceaneering International, Inc. will post ($0.12) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, May 26th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Wednesday, May 24th. Oceaneering International’s dividend payout ratio is -750.00%.
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Several research analysts recently commented on the stock. Jefferies Group LLC restated a “hold” rating and set a $25.00 target price on shares of Oceaneering International in a report on Monday, June 19th. Seaport Global Securities cut shares of Oceaneering International from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $24.00 to $19.00 in a report on Wednesday. Morgan Stanley cut shares of Oceaneering International from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $33.00 to $28.00 in a report on Wednesday. Scotiabank set a $37.00 target price on shares of Oceaneering International and gave the stock a “buy” rating in a report on Tuesday, June 13th. Finally, Wolfe Research cut shares of Oceaneering International from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 6th. Six research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Oceaneering International has an average rating of “Hold” and a consensus target price of $29.33.
In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 4,000 shares of Oceaneering International stock in a transaction on Monday, March 27th. The shares were sold at an average price of $24.68, for a total transaction of $98,720.00. Following the transaction, the director now directly owns 18,901 shares of the company’s stock, valued at approximately $466,476.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.91% of the stock is owned by insiders.
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).
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