Tocqueville Asset Management L.P. cut its holdings in shares of Oceaneering International (NYSE:OII) by 49.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,000 shares of the oil and gas company’s stock after selling 203,200 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.21% of Oceaneering International worth $4,334,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Zions Bancorporation bought a new stake in Oceaneering International in the 3rd quarter valued at $100,000. Quantbot Technologies LP bought a new stake in Oceaneering International in the 3rd quarter valued at $103,000. Amundi Pioneer Asset Management Inc. bought a new stake in Oceaneering International in the 4th quarter valued at $112,000. State of Alaska Department of Revenue bought a new stake in Oceaneering International in the 4th quarter valued at $120,000. Finally, World Asset Management Inc bought a new stake in Oceaneering International in the 3rd quarter valued at $201,000. 97.81% of the stock is currently owned by institutional investors and hedge funds.
OII has been the subject of several recent research reports. Capital One Financial downgraded Oceaneering International from an “overweight” rating to an “equal weight” rating in a research note on Thursday, November 16th. Royal Bank of Canada set a $22.00 price target on Oceaneering International and gave the company a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research downgraded Oceaneering International from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Howard Weil downgraded Oceaneering International from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, January 12th. Finally, Cowen set a $27.00 price target on Oceaneering International and gave the company a “hold” rating in a research note on Thursday, January 11th. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $22.63.
Shares of Oceaneering International (OII) opened at $19.10 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.23 and a current ratio of 2.72. Oceaneering International has a 1 year low of $17.11 and a 1 year high of $28.21.
Oceaneering International (NYSE:OII) last released its earnings results on Thursday, February 22nd. The oil and gas company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $484.20 million during the quarter, compared to the consensus estimate of $435.90 million. Oceaneering International had a negative return on equity of 0.49% and a net margin of 8.66%. The company’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. analysts predict that Oceaneering International will post -0.56 earnings per share for the current fiscal year.
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Oceaneering International 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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