Bessemer Group Inc. Sells 2,684 Shares of Oceaneering International, Inc. (NYSE:OII)

Bessemer Group Inc. decreased its stake in Oceaneering International, Inc. (NYSE:OII) by 63.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,532 shares of the oil and gas company’s stock after selling 2,684 shares during the period. Bessemer Group Inc.’s holdings in Oceaneering International were worth $40,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OII. Teacher Retirement System of Texas bought a new position in shares of Oceaneering International in the 4th quarter valued at $531,000. Old West Investment Management LLC acquired a new position in Oceaneering International in the 4th quarter worth about $1,565,000. Stifel Financial Corp raised its position in Oceaneering International by 51.8% in the third quarter. Stifel Financial Corp now owns 68,943 shares of the oil and gas company’s stock valued at $1,715,000 after purchasing an additional 23,512 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Oceaneering International by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,298,658 shares of the oil and gas company’s stock valued at $33,869,000 after purchasing an additional 58,081 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Oceaneering International by 334.5% during the third quarter. Barclays PLC now owns 180,470 shares of the oil and gas company’s stock worth $4,489,000 after purchasing an additional 138,931 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Price Performance

OII stock opened at $17.87 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.74 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $20.80 and its 200 day simple moving average is $24.46. Oceaneering International, Inc. has a 12-month low of $15.46 and a 12-month high of $30.98. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 12.41 and a beta of 1.94.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $713.45 million for the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. On average, analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Analysts Set New Price Targets

OII has been the subject of a number of research reports. Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a report on Friday, January 10th. Pickering Energy Partners upgraded shares of Oceaneering International from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 2nd. StockNews.com downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. TD Cowen lifted their target price on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. Finally, Barclays decreased their price target on Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Oceaneering International presently has a consensus rating of “Hold” and a consensus price target of $28.25.

About Oceaneering International

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.