Congress Asset Management Co. Increases Holdings in Oceaneering International, Inc. (NYSE:OII)

Congress Asset Management Co. boosted its position in Oceaneering International, Inc. (NYSE:OII) by 11.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,736,307 shares of the oil and gas company’s stock after purchasing an additional 175,434 shares during the period. Congress Asset Management Co.’s holdings in Oceaneering International were worth $45,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Rhumbline Advisers lifted its holdings in shares of Oceaneering International by 1.8% in the 4th quarter. Rhumbline Advisers now owns 256,524 shares of the oil and gas company’s stock worth $6,690,000 after acquiring an additional 4,530 shares during the last quarter. Van ECK Associates Corp lifted its stake in Oceaneering International by 8.9% in the fourth quarter. Van ECK Associates Corp now owns 1,568,481 shares of the oil and gas company’s stock worth $40,906,000 after purchasing an additional 128,187 shares during the last quarter. Savant Capital LLC boosted its position in Oceaneering International by 20.8% during the fourth quarter. Savant Capital LLC now owns 9,824 shares of the oil and gas company’s stock valued at $256,000 after buying an additional 1,689 shares during the period. Empowered Funds LLC grew its stake in shares of Oceaneering International by 0.6% during the fourth quarter. Empowered Funds LLC now owns 118,466 shares of the oil and gas company’s stock valued at $3,090,000 after buying an additional 757 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Oceaneering International in the fourth quarter worth about $1,178,000. 93.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OII shares. Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $22.00 to $26.00 in a research note on Wednesday, December 18th. TD Cowen lifted their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Benchmark reissued a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th. Finally, Citigroup cut shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Oceaneering International presently has an average rating of “Hold” and a consensus target price of $29.25.

Oceaneering International Stock Performance

Shares of OII stock opened at $25.42 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average of $25.88 and a 200 day moving average of $26.15. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 19.25 and a beta of 2.38. Oceaneering International, Inc. has a 52 week low of $19.68 and a 52 week high of $30.98.

Oceaneering International Company Profile

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.