Walthausen & Co. LLC reduced its position in shares of Oceaneering International, Inc. (NYSE:OII) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 208,330 shares of the oil and gas company’s stock after selling 13,020 shares during the period. Walthausen & Co. LLC owned 0.21% of Oceaneering International worth $4,758,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Utah Retirement Systems lifted its position in shares of Oceaneering International by 0.6% during the first quarter. Utah Retirement Systems now owns 17,782 shares of the oil and gas company’s stock valued at $482,000 after purchasing an additional 100 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Oceaneering International by 4.0% during the first quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 300 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Oceaneering International by 3.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,605 shares of the oil and gas company’s stock valued at $242,000 after purchasing an additional 330 shares in the last quarter. Advantus Capital Management Inc lifted its position in shares of Oceaneering International by 3.0% during the first quarter. Advantus Capital Management Inc now owns 12,557 shares of the oil and gas company’s stock valued at $340,000 after purchasing an additional 369 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Oceaneering International by 2.9% during the first quarter. Amalgamated Bank now owns 15,522 shares of the oil and gas company’s stock valued at $420,000 after purchasing an additional 439 shares in the last quarter. 99.71% of the stock is currently owned by institutional investors.
Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $515.04 million during the quarter, compared to analyst estimates of $481.86 million. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. The firm’s quarterly revenue was down 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.36%. The ex-dividend date was Wednesday, August 23rd. Oceaneering International’s dividend payout ratio is -206.90%.
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A number of research analysts recently weighed in on the stock. Cowen and Company set a $28.00 price target on shares of Oceaneering International and gave the company a “hold” rating in a research report on Friday, August 4th. Piper Jaffray Companies set a $26.00 price objective on shares of Oceaneering International and gave the stock a “buy” rating in a report on Sunday, July 30th. Deutsche Bank AG initiated coverage on shares of Oceaneering International in a report on Tuesday. They set a “hold” rating and a $28.00 price objective for the company. Scotiabank set a $37.00 price objective on shares of Oceaneering International and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Barclays PLC initiated coverage on shares of Oceaneering International in a report on Friday, October 6th. They set an “equal weight” rating and a $28.00 price objective for the company. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $28.75.
In related news, Director Paul B. Murphy, Jr. sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $26.34, for a total value of $52,680.00. Following the completion of the sale, the director now directly owns 16,600 shares of the company’s stock, valued at approximately $437,244. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.91% of the company’s stock.
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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