QRG Capital Management Inc. Takes $754,000 Position in Oceaneering International, Inc. $OII

QRG Capital Management Inc. acquired a new position in Oceaneering International, Inc. (NYSE:OII) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,263 shares of the oil and gas company’s stock, valued at approximately $754,000.

Several other institutional investors and hedge funds also recently bought and sold shares of OII. Vanguard Group Inc. grew its holdings in Oceaneering International by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock valued at $297,279,000 after purchasing an additional 187,707 shares during the period. State Street Corp raised its stake in shares of Oceaneering International by 4.9% in the fourth quarter. State Street Corp now owns 4,647,252 shares of the oil and gas company’s stock worth $111,673,000 after buying an additional 215,366 shares during the period. Morgan Stanley Institutional Investment Advisors LLC purchased a new position in shares of Oceaneering International during the 4th quarter valued at about $94,847,000. Dimensional Fund Advisors LP lifted its position in shares of Oceaneering International by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,477,068 shares of the oil and gas company’s stock valued at $83,556,000 after buying an additional 191,117 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Oceaneering International by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 2,304,738 shares of the oil and gas company’s stock valued at $55,396,000 after acquiring an additional 51,871 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Oceaneering International

In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the completion of the transaction, the chief executive officer owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This represents a 1.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

OII has been the subject of several analyst reports. TD Cowen increased their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. Citigroup upped their price target on shares of Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Finally, Barclays increased their price objective on shares of Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $38.33.

Oceaneering International Price Performance

OII stock opened at $40.68 on Friday. Oceaneering International, Inc. has a one year low of $20.21 and a one year high of $41.49. The company’s fifty day moving average price is $38.27 and its 200-day moving average price is $34.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.79 and a current ratio of 2.08. The company has a market capitalization of $4.06 billion, a PE ratio of 12.07 and a beta of 1.15.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $671.35 million. Oceaneering International had a net margin of 12.12% and a return on equity of 18.35%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. On average, equities analysts anticipate that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Oceaneering International Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.