Nikko Asset Management Americas Inc. Sells 7,248 Shares of Oceaneering International, Inc. (NYSE:OII)

Nikko Asset Management Americas Inc. cut its position in shares of Oceaneering International, Inc. (NYSE:OII) by 29.8% during the 4th quarter, Holdings Channel reports. The firm owned 17,047 shares of the oil and gas company’s stock after selling 7,248 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Oceaneering International were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of OII. State Street Corp increased its position in Oceaneering International by 2.1% during the third quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock worth $129,847,000 after buying an additional 107,394 shares during the last quarter. FMR LLC increased its holdings in shares of Oceaneering International by 1.3% during the 3rd quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock worth $72,023,000 after acquiring an additional 36,593 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Oceaneering International by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,279,039 shares of the oil and gas company’s stock worth $56,691,000 after acquiring an additional 26,328 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Oceaneering International by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,928,780 shares of the oil and gas company’s stock valued at $49,647,000 after purchasing an additional 57,193 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in Oceaneering International by 12.6% during the third quarter. Loomis Sayles & Co. L P now owns 1,838,772 shares of the oil and gas company’s stock worth $45,730,000 after purchasing an additional 206,458 shares during the period. 93.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on OII. Barclays dropped their price objective on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. TD Cowen increased their price target on shares of Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, January 8th. StockNews.com cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Citigroup lowered Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research note on Friday, January 10th. Finally, Pickering Energy Partners downgraded Oceaneering International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 14th. One 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.25.

Oceaneering International Stock Performance

Shares of NYSE:OII opened at $20.62 on Tuesday. Oceaneering International, Inc. has a 12-month low of $18.87 and a 12-month high of $30.98. The company’s 50 day moving average price is $24.07 and its two-hundred day moving average price is $25.38. The firm has a market cap of $2.08 billion, a PE ratio of 14.32 and a beta of 2.42. The company has a quick ratio of 1.46, a current ratio of 1.74 and a debt-to-equity ratio of 0.67.

Oceaneering International (NYSE:OII) last posted its quarterly earnings data on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $713.45 million for the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a return on equity of 17.29% and a net margin of 5.54%. Equities research analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

About Oceaneering International

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.