Ergoteles LLC purchased a new stake in shares of Oceaneering International, Inc. (NYSE:OII – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,657 shares of the oil and gas company’s stock, valued at approximately $379,000.
Several other institutional investors have also added to or reduced their stakes in the business. Eaton Vance Management boosted its position in Oceaneering International by 4.6% during the first quarter. Eaton Vance Management now owns 29,275 shares of the oil and gas company’s stock valued at $444,000 after buying an additional 1,282 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Oceaneering International by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 18,400 shares of the oil and gas company’s stock valued at $197,000 after acquiring an additional 1,400 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Oceaneering International by 21,428.6% during the third quarter. IFP Advisors Inc now owns 1,507 shares of the oil and gas company’s stock valued at $82,000 after acquiring an additional 1,500 shares during the last quarter. Raymond James & Associates raised its stake in shares of Oceaneering International by 3.3% during the third quarter. Raymond James & Associates now owns 47,261 shares of the oil and gas company’s stock valued at $376,000 after acquiring an additional 1,512 shares during the last quarter. Finally, Credit Suisse AG raised its stake in shares of Oceaneering International by 1.9% during the third quarter. Credit Suisse AG now owns 82,822 shares of the oil and gas company’s stock valued at $659,000 after acquiring an additional 1,520 shares during the last quarter. 89.89% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Friday, February 24th. Barclays upped their price objective on shares of Oceaneering International from $13.00 to $22.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Oceaneering International in a research note on Monday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Oceaneering International presently has an average rating of “Moderate Buy” and an average price target of $18.60.
Oceaneering International Price Performance
Oceaneering International (NYSE:OII – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). Oceaneering International had a return on equity of 6.28% and a net margin of 1.26%. The company had revenue of $536.22 million during the quarter, compared to the consensus estimate of $549.29 million. During the same period in the previous year, the company earned $0.05 earnings per share. Oceaneering International’s quarterly revenue was up 14.9% on a year-over-year basis. On average, sell-side analysts forecast that Oceaneering International, Inc. will post 0.86 EPS for the current year.
About Oceaneering International
Oceaneering International, Inc engages in the provision of engineered services and products. It operates through the following business segments: Subsea Robotics, Manufactured Products, Offshore Projects Group (OPG), Integrity Management & Digital Solutions (IMDS), and Aerospace and Defense Technologies (ADTech).
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