Sheets Smith Wealth Management Takes Position in Oceaneering International, Inc. (NYSE:OII)

Sheets Smith Wealth Management purchased a new position in shares of Oceaneering International, Inc. (NYSE:OII) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,024 shares of the oil and gas company’s stock, valued at approximately $522,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Oceaneering International by 3,594.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,905 shares in the last quarter. Millburn Ridgefield Corp purchased a new position in shares of Oceaneering International during the 3rd quarter worth approximately $57,000. GAMMA Investing LLC grew its stake in shares of Oceaneering International by 108.3% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock valued at $68,000 after buying an additional 1,412 shares in the last quarter. CWM LLC increased its stake in Oceaneering International by 165.5% during the third quarter. CWM LLC now owns 6,935 shares of the oil and gas company’s stock worth $172,000 after purchasing an additional 4,323 shares during the period. Finally, Central Pacific Bank Trust Division increased its stake in Oceaneering International by 34.5% during the 3rd quarter. Central Pacific Bank Trust Division now owns 7,010 shares of the oil and gas company’s stock worth $174,000 after buying an additional 1,800 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on OII shares. Benchmark reiterated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. Citigroup downgraded shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research report on Friday, January 10th. Pickering Energy Partners cut shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $22.00 to $26.00 in a report on Wednesday, December 18th. Finally, TD Cowen lifted their price target on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.25.

Oceaneering International Trading Down 2.7 %

NYSE OII opened at $26.36 on Thursday. Oceaneering International, Inc. has a 12 month low of $19.68 and a 12 month high of $30.98. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 19.97 and a beta of 2.41. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. The firm’s fifty day moving average price is $27.06 and its 200 day moving average price is $26.27.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). Oceaneering International had a return on equity of 15.11% and a net margin of 5.22%. The firm had revenue of $679.81 million for the quarter, compared to analyst estimates of $693.69 million. During the same quarter last year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that Oceaneering International, Inc. will post 1.37 earnings per share for the current fiscal year.

Oceaneering International Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.