Portside Wealth Group LLC Makes New Investment in Oceaneering International, Inc. (NYSE:OII)

Portside Wealth Group LLC purchased a new stake in shares of Oceaneering International, Inc. (NYSE:OII) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 9,609 shares of the oil and gas company’s stock, valued at approximately $210,000.

Several other institutional investors have also made changes to their positions in OII. Barclays PLC raised its position in Oceaneering International by 334.5% during the third quarter. Barclays PLC now owns 180,470 shares of the oil and gas company’s stock valued at $4,489,000 after acquiring an additional 138,931 shares in the last quarter. KBC Group NV increased its stake in shares of Oceaneering International by 72.6% during the 4th quarter. KBC Group NV now owns 5,210 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 2,192 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Oceaneering International during the 4th quarter valued at $1,178,000. Empowered Funds LLC lifted its stake in shares of Oceaneering International by 0.6% in the 4th quarter. Empowered Funds LLC now owns 118,466 shares of the oil and gas company’s stock valued at $3,090,000 after purchasing an additional 757 shares during the last quarter. Finally, Savant Capital LLC lifted its stake in shares of Oceaneering International by 20.8% in the 4th quarter. Savant Capital LLC now owns 9,824 shares of the oil and gas company’s stock valued at $256,000 after purchasing an additional 1,689 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on OII. Barclays lowered their target price on shares of Oceaneering International from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a research note on Sunday, June 1st. Finally, Pickering Energy Partners raised Oceaneering International from an “underperform” rating to a “neutral” rating in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Oceaneering International has a consensus rating of “Hold” and a consensus target price of $28.00.

Oceaneering International Stock Up 1.6%

OII stock opened at $20.07 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46. Oceaneering International, Inc. has a 52-week low of $15.46 and a 52-week high of $30.98. The company has a 50-day moving average of $18.62 and a two-hundred day moving average of $22.78. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 13.94 and a beta of 1.54.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. The business had revenue of $674.52 million during the quarter, compared to analysts’ expectations of $651.96 million. During the same quarter in the previous year, the firm earned $0.14 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Oceaneering International Company Profile

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.