Zions Bancorporation Takes $100,000 Position in Oceaneering International, Inc. (OII)
Zions Bancorporation bought a new position in Oceaneering International, Inc. (NYSE:OII) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,801 shares of the oil and gas company’s stock, valued at approximately $100,000.
A number of other hedge funds have also recently added to or reduced their stakes in OII. Great West Life Assurance Co. Can grew its stake in Oceaneering International by 3.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 59,199 shares of the oil and gas company’s stock worth $1,351,000 after acquiring an additional 1,910 shares during the period. Sei Investments Co. boosted its holdings in shares of Oceaneering International by 2.6% in the 2nd quarter. Sei Investments Co. now owns 61,160 shares of the oil and gas company’s stock valued at $1,397,000 after purchasing an additional 1,526 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Oceaneering International by 77.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 149,800 shares of the oil and gas company’s stock valued at $3,421,000 after purchasing an additional 65,600 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Oceaneering International by 1.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 456,564 shares of the oil and gas company’s stock valued at $10,428,000 after purchasing an additional 7,032 shares during the last quarter. Finally, Foundry Partners LLC boosted its holdings in shares of Oceaneering International by 44.3% in the 2nd quarter. Foundry Partners LLC now owns 17,500 shares of the oil and gas company’s stock valued at $400,000 after purchasing an additional 5,375 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.
Oceaneering International, Inc. (NYSE OII) opened at $18.42 on Friday. The company has a current ratio of 2.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.53. The firm has a market cap of $1,827.01, a price-to-earnings ratio of 619.67 and a beta of 1.63. Oceaneering International, Inc. has a 1-year low of $17.11 and a 1-year high of $31.63.
Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, October 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The business had revenue of $476.12 million for the quarter, compared to analyst estimates of $511.14 million. Oceaneering International had a negative net margin of 0.94% and a positive return on equity of 0.21%. The business’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. research analysts forecast that Oceaneering International, Inc. will post -0.09 earnings per share for the current fiscal year.
OII has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of Oceaneering International in a report on Friday, October 6th. They issued an “equal weight” rating and a $28.00 price target on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $28.00 price target (up previously from $26.00) on shares of Oceaneering International in a report on Tuesday, October 3rd. J P Morgan Chase & Co decreased their price target on shares of Oceaneering International from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Tuesday, September 12th. ValuEngine upgraded shares of Oceaneering International from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Citigroup decreased their price target on shares of Oceaneering International from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, October 30th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $24.03.
In related news, Director Paul B. Murphy, Jr. sold 2,000 shares of Oceaneering International stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $26.34, for a total transaction of $52,680.00. Following the transaction, the director now owns 16,600 shares in the company, valued at approximately $437,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.91% of the company’s stock.
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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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