Dimensional Fund Advisors LP Purchases 1,190,224 Shares of Oceaneering International, Inc. (OII)
Dimensional Fund Advisors LP lifted its position in shares of Oceaneering International, Inc. (NYSE:OII) by 39.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,205,338 shares of the oil and gas company’s stock after buying an additional 1,190,224 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.28% of Oceaneering International worth $96,049,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtu KCG Holdings LLC bought a new position in shares of Oceaneering International during the 2nd quarter worth $782,000. Hancock Holding Co. bought a new position in shares of Oceaneering International during the 2nd quarter worth $6,805,000. Suntrust Banks Inc. grew its position in shares of Oceaneering International by 27.0% during the 2nd quarter. Suntrust Banks Inc. now owns 86,175 shares of the oil and gas company’s stock worth $1,967,000 after buying an additional 18,332 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Oceaneering International by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,459,942 shares of the oil and gas company’s stock worth $193,226,000 after buying an additional 81,313 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Oceaneering International by 20.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,204,747 shares of the oil and gas company’s stock worth $27,516,000 after buying an additional 205,098 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Oceaneering International, Inc. (NYSE:OII) opened at 25.45 on Thursday. The company’s 50-day moving average price is $24.49 and its 200-day moving average price is $24.91. Oceaneering International, Inc. has a 12 month low of $20.74 and a 12 month high of $32.12. The company’s market cap is $2.50 billion.
Oceaneering International (NYSE:OII) last released its earnings results 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 firm had revenue of $515.04 million during the quarter, compared to analysts’ expectations of $481.86 million. During the same period in the previous year, the firm posted $0.23 EPS. Oceaneering International’s revenue for the quarter 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 fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 2.36%. Oceaneering International’s payout ratio is -206.90%.
A number of research firms have recently issued reports on OII. Cowen and Company set a $28.00 price target on Oceaneering International and gave the stock a “hold” rating in a research report on Friday, August 4th. Piper Jaffray Companies set a $26.00 price target on Oceaneering International and gave the stock a “buy” rating in a research report on Sunday, July 30th. Scotiabank set a $37.00 price target on Oceaneering International and gave the stock a “buy” rating in a research report on Friday, July 28th. J P Morgan Chase & Co dropped their price target on Oceaneering International from $22.00 to $21.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 12th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $25.00 price target on shares of Oceaneering International in a research report on Monday, June 19th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.90.
In other news, Director Paul B. Murphy, Jr. sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $26.34, for a total transaction of $52,680.00. Following the completion of the transaction, the director now directly owns 16,600 shares of the company’s stock, valued at approximately $437,244. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.91% of the company’s stock.
About Oceaneering International
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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