Retirement Systems of Alabama Decreases Position in Oceaneering International (OII)

Retirement Systems of Alabama lowered its position in shares of Oceaneering International (NYSE:OII) by 55.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,070 shares of the oil and gas company’s stock after selling 155,314 shares during the quarter. Retirement Systems of Alabama’s holdings in Oceaneering International were worth $2,686,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. New Mexico Educational Retirement Board bought a new position in Oceaneering International during the fourth quarter valued at about $514,000. California Public Employees Retirement System boosted its stake in Oceaneering International by 5.0% during the fourth quarter. California Public Employees Retirement System now owns 386,565 shares of the oil and gas company’s stock valued at $8,172,000 after buying an additional 18,238 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Oceaneering International by 304.9% during the fourth quarter. Teacher Retirement System of Texas now owns 32,917 shares of the oil and gas company’s stock valued at $696,000 after buying an additional 24,788 shares in the last quarter. ING Groep NV boosted its stake in Oceaneering International by 23.2% during the fourth quarter. ING Groep NV now owns 14,828 shares of the oil and gas company’s stock valued at $313,000 after buying an additional 2,793 shares in the last quarter. Finally, Majedie Asset Management Ltd boosted its stake in Oceaneering International by 69.7% during the fourth quarter. Majedie Asset Management Ltd now owns 1,799,717 shares of the oil and gas company’s stock valued at $38,046,000 after buying an additional 738,968 shares in the last quarter. 96.94% of the stock is owned by institutional investors and hedge funds.

Oceaneering International (NYSE OII) opened at $18.71 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.67 and a quick ratio of 2.14. Oceaneering International has a 1 year low of $17.11 and a 1 year high of $29.53. The firm has a market capitalization of $1,847.65, a price-to-earnings ratio of 626.67 and a beta of 1.44.

Several brokerages recently weighed in on OII. Jefferies Group set a $18.00 target price on Oceaneering International and gave the company a “hold” rating in a research note on Sunday, October 29th. Scotiabank set a $37.00 target price on Oceaneering International and gave the company a “buy” rating in a research note on Friday, October 27th. Cowen set a $21.00 target price on Oceaneering International and gave the company a “hold” rating in a research note on Sunday, October 29th. Zacks Investment Research cut Oceaneering International from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Loop Capital decreased their target price on Oceaneering International from $27.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, October 27th. Eight equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.46.

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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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Institutional Ownership by Quarter for Oceaneering International (NYSE:OII)

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