Nuveen Asset Management LLC acquired a new position in shares of Oceaneering International (NYSE:OII) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 573,911 shares of the oil and gas company’s stock, valued at approximately $11,702,000. Nuveen Asset Management LLC owned approximately 0.58% of Oceaneering International as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of OII. FMR LLC grew its position in Oceaneering International by 8.7% in the first quarter. FMR LLC now owns 12,466,488 shares of the oil and gas company’s stock valued at $196,597,000 after purchasing an additional 1,001,484 shares in the last quarter. Vanguard Group Inc. grew its position in Oceaneering International by 1.4% in the second quarter. Vanguard Group Inc. now owns 9,486,185 shares of the oil and gas company’s stock valued at $193,423,000 after purchasing an additional 131,218 shares in the last quarter. Fisher Asset Management LLC grew its position in Oceaneering International by 1.1% in the second quarter. Fisher Asset Management LLC now owns 3,594,899 shares of the oil and gas company’s stock valued at $73,300,000 after purchasing an additional 38,087 shares in the last quarter. Van ECK Associates Corp grew its position in Oceaneering International by 56.1% in the second quarter. Van ECK Associates Corp now owns 1,800,526 shares of the oil and gas company’s stock valued at $36,713,000 after purchasing an additional 647,261 shares in the last quarter. Finally, Northern Trust Corp grew its position in Oceaneering International by 5.3% in the second quarter. Northern Trust Corp now owns 1,670,798 shares of the oil and gas company’s stock valued at $34,067,000 after purchasing an additional 83,528 shares in the last quarter. 95.36% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on OII shares. Citigroup decreased their target price on shares of Oceaneering International from $22.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Royal Bank of Canada set a $20.00 target price on shares of Oceaneering International and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, ValuEngine downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Oceaneering International currently has a consensus rating of “Hold” and an average target price of $18.20.
Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.07). The firm had revenue of $495.78 million during the quarter, compared to analyst estimates of $524.97 million. Oceaneering International had a negative net margin of 9.49% and a negative return on equity of 4.38%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.23) EPS. On average, research analysts expect that Oceaneering International will post -0.94 EPS for the current year.
Oceaneering International Profile
Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.
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