Oceaneering International, Inc. (OII) Position Raised by Texas Permanent School Fund
Texas Permanent School Fund raised its position in shares of Oceaneering International, Inc. (NYSE:OII) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 71,740 shares of the oil and gas company’s stock after buying an additional 735 shares during the period. Texas Permanent School Fund’s holdings in Oceaneering International were worth $1,639,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. 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 period. 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 period. State Street Corp increased its position in shares of Oceaneering International by 0.7% in the first quarter. State Street Corp now owns 2,995,000 shares of the oil and gas company’s stock worth $81,101,000 after buying an additional 21,246 shares during the period. 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 period. Finally, AQR Capital Management LLC increased its position in shares of Oceaneering International by 16.0% in the first quarter. AQR Capital Management LLC now owns 1,758,624 shares of the oil and gas company’s stock worth $47,624,000 after buying an additional 242,499 shares during the period. Hedge funds and other institutional investors own 98.08% of the company’s stock.
Oceaneering International, Inc. (NYSE OII) opened at 23.16 on Tuesday. The company’s market cap is $2.28 billion. The firm has a 50-day moving average price of $23.83 and a 200 day moving average price of $25.65. Oceaneering International, Inc. has a 52 week low of $20.74 and a 52 week high of $32.12.
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, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $515.04 million during the quarter, compared to analysts’ expectations of $481.86 million. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. Oceaneering International’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. Analysts expect that Oceaneering International, Inc. will post ($0.04) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, August 23rd. Oceaneering International’s dividend payout ratio (DPR) is presently -206.90%.
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A number of research analysts have issued reports on OII shares. Zacks Investment Research upgraded Oceaneering International from a “sell” rating to a “hold” rating in a research note on Saturday, July 15th. Royal Bank Of Canada restated a “sell” rating and issued a $30.00 price objective on shares of Oceaneering International in a research note on Friday, April 21st. Morgan Stanley downgraded Oceaneering International from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $33.00 to $28.00 in a research note on Wednesday, June 21st. Scotiabank set a $37.00 price objective on Oceaneering International and gave the company a “buy” rating in a research note on Tuesday, June 13th. Finally, Wolfe Research downgraded Oceaneering International from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 6th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price 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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