Bright Rock Capital Management LLC purchased a new position in shares of Oceaneering International, Inc. (NYSE:OII) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 55,000 shares of the oil and gas company’s stock, valued at approximately $1,256,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OII. BlackRock Inc. increased its position in shares of Oceaneering International by 10,555.3% in the first quarter. BlackRock Inc. now owns 8,513,376 shares of the oil and gas company’s stock worth $230,542,000 after buying an additional 8,433,478 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Oceaneering International by 91.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,015,114 shares of the oil and gas company’s stock worth $81,648,000 after buying an additional 1,443,300 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Oceaneering International during the first quarter worth about $21,063,000. Bank of New York Mellon Corp increased its position in shares of Oceaneering International by 34.6% in the first quarter. Bank of New York Mellon Corp now owns 2,199,714 shares of the oil and gas company’s stock worth $59,569,000 after buying an additional 565,334 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Oceaneering International by 131.6% in the first quarter. Teachers Advisors LLC now owns 967,472 shares of the oil and gas company’s stock worth $26,199,000 after buying an additional 549,786 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Oceaneering International, Inc. (OII) opened at 24.30 on Thursday. Oceaneering International, Inc. has a 12 month low of $20.74 and a 12 month high of $32.12. The firm has a 50-day moving average price of $23.70 and a 200-day moving average price of $25.77. The stock’s market cap is $2.40 billion.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The company had revenue of $515.04 million during the quarter, compared to analyst estimates of $481.86 million. During the same period in the previous year, the business earned $0.23 EPS. Oceaneering International’s quarterly revenue was down 17.7% on a year-over-year basis. Equities analysts forecast that Oceaneering International, Inc. will post ($0.04) EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.47%. Oceaneering International’s dividend payout ratio (DPR) is presently -206.90%.

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OII has been the topic of a number of research analyst reports. BidaskClub downgraded Oceaneering International from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Zacks Investment Research downgraded Oceaneering International from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Royal Bank Of Canada reaffirmed a “sell” rating and set a $25.00 price target on shares of Oceaneering International in a report on Thursday, July 20th. Scotiabank reaffirmed a “buy” rating and set a $37.00 price target on shares of Oceaneering International in a report on Friday, April 28th. Finally, Wolfe Research downgraded Oceaneering International from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 6th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Oceaneering International has a consensus rating of “Hold” and a consensus price target of $28.50.

Oceaneering International Company Profile

Oceaneering International, Inc is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies).

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Institutional Ownership by Quarter for Oceaneering International (NYSE:OII)

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