Sheets Smith Investment Management Buys Shares of 47,458 Oceaneering International, Inc. (NYSE:OII)

Sheets Smith Investment Management bought a new stake in shares of Oceaneering International, Inc. (NYSE:OII) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 47,458 shares of the oil and gas company’s stock, valued at approximately $1,238,000.

Several other institutional investors have also recently added to or reduced their stakes in OII. American Century Companies Inc. increased its stake in Oceaneering International by 14.3% during the fourth quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company’s stock valued at $74,112,000 after purchasing an additional 355,290 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Oceaneering International by 191.7% during the fourth quarter. Fisher Asset Management LLC now owns 386,068 shares of the oil and gas company’s stock worth $10,069,000 after acquiring an additional 253,705 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of 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 acquiring an additional 206,458 shares during the last quarter. Congress Asset Management Co. grew its position in shares of Oceaneering International by 11.2% during the fourth quarter. Congress Asset Management Co. now owns 1,736,307 shares of the oil and gas company’s stock worth $45,283,000 after acquiring an additional 175,434 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Oceaneering International by 334.5% during the third quarter. Barclays PLC now owns 180,470 shares of the oil and gas company’s stock worth $4,489,000 after acquiring an additional 138,931 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Performance

OII stock opened at $21.55 on Monday. The company has a market capitalization of $2.17 billion, a P/E ratio of 14.96 and a beta of 2.42. The company has a 50-day simple moving average of $23.62 and a 200 day simple moving average of $25.25. Oceaneering International, Inc. has a fifty-two week low of $18.87 and a fifty-two week high of $30.98. 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 issued its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. The business had revenue of $713.45 million during the quarter, compared to analyst estimates of $681.60 million. Sell-side analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research report on Friday, January 10th. Pickering Energy Partners lowered shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. StockNews.com lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Finally, TD Cowen upped their price objective on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Oceaneering International presently has an average rating of “Hold” and a consensus price target of $28.25.

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.