Telemark Asset Management LLC acquired a new stake in Oceaneering International (NYSE:OII) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 150,000 shares of the oil and gas company’s stock, valued at approximately $3,059,000. Telemark Asset Management LLC owned about 0.15% of Oceaneering International at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. C M Bidwell & Associates Ltd. acquired a new stake in Oceaneering International in the 2nd quarter valued at about $36,000. Zions Bancorporation N.A. acquired a new stake in Oceaneering International in the 1st quarter valued at about $44,000. US Bancorp DE grew its stake in Oceaneering International by 36.6% in the 2nd quarter. US Bancorp DE now owns 4,893 shares of the oil and gas company’s stock valued at $100,000 after acquiring an additional 1,310 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Oceaneering International by 47.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,622 shares of the oil and gas company’s stock valued at $244,000 after acquiring an additional 2,774 shares during the last quarter. Finally, Manchester Capital Management LLC acquired a new stake in Oceaneering International in the 1st quarter valued at about $163,000. 95.06% of the stock is currently owned by hedge funds and other institutional investors.
OII has been the topic of a number of research reports. ValuEngine cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada set a $20.00 price objective on shares of Oceaneering International and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Citigroup lowered their price objective on shares of Oceaneering International from $22.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.20.
NYSE:OII traded up $0.83 on Monday, reaching $15.60. The stock had a trading volume of 94,686 shares, compared to its average volume of 1,031,210. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -22.10 and a beta of 2.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.43 and a quick ratio of 2.01. The firm’s fifty day moving average is $13.46 and its two-hundred day moving average is $16.41. Oceaneering International has a 12-month low of $10.74 and a 12-month high of $28.44.
Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 24th. The oil and gas company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.07). The firm had revenue of $495.78 million during the quarter, compared to analysts’ expectations of $524.97 million. Oceaneering International had a negative net margin of 9.49% and a negative return on equity of 4.38%. Oceaneering International’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.23) earnings per share. As a group, research analysts forecast that Oceaneering International will post -0.81 earnings per share for the current fiscal year.
Oceaneering International Company Profile
Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.
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