Bank of America Corp DE Reduces Stock Position in Oceaneering International (NYSE:OII)

Bank of America Corp DE lessened its holdings in Oceaneering International (NYSE:OII) by 56.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 353,375 shares of the oil and gas company’s stock after selling 449,642 shares during the quarter. Bank of America Corp DE’s holdings in Oceaneering International were worth $7,205,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. FMR LLC grew its holdings in shares of Oceaneering International by 8.7% during the first quarter. FMR LLC now owns 12,466,488 shares of the oil and gas company’s stock worth $196,597,000 after purchasing an additional 1,001,484 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Oceaneering International by 1.4% during the second quarter. Vanguard Group Inc. now owns 9,486,185 shares of the oil and gas company’s stock worth $193,423,000 after purchasing an additional 131,218 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Oceaneering International by 1.1% during the second quarter. Fisher Asset Management LLC now owns 3,594,899 shares of the oil and gas company’s stock worth $73,300,000 after purchasing an additional 38,087 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Oceaneering International by 56.1% during the second quarter. Van ECK Associates Corp now owns 1,800,526 shares of the oil and gas company’s stock worth $36,713,000 after purchasing an additional 647,261 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Oceaneering International by 5.3% during the second quarter. Northern Trust Corp now owns 1,670,798 shares of the oil and gas company’s stock worth $34,067,000 after purchasing an additional 83,528 shares during the last quarter. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on OII shares. Royal Bank of Canada set a $20.00 price objective on Oceaneering International and gave the stock a “buy” rating in a report on Friday, July 26th. ValuEngine lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Citigroup dropped their price objective on Oceaneering International from $22.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Oceaneering International currently has an average rating of “Hold” and a consensus price target of $18.20.

Shares of OII opened at $14.24 on Friday. Oceaneering International has a fifty-two week low of $10.74 and a fifty-two week high of $26.27. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -20.06 and a beta of 2.19. The firm has a 50-day simple moving average of $13.53 and a 200-day simple moving average of $16.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.43.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.07). Oceaneering International had a negative return on equity of 4.38% and a negative net margin of 9.49%. The business had revenue of $495.78 million for the quarter, compared to analyst estimates of $524.97 million. During the same quarter last year, the company posted ($0.23) EPS. Oceaneering International’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts forecast that Oceaneering International will post -0.91 EPS for the current year.

Oceaneering International Profile

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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

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