AlphaQuest LLC Raises Holdings in Oceaneering International, Inc. (NYSE:OII)

AlphaQuest LLC boosted its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 4,023.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,040 shares of the oil and gas company’s stock after buying an additional 11,748 shares during the period. AlphaQuest LLC’s holdings in Oceaneering International were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new stake in Oceaneering International in the fourth quarter valued at approximately $40,000. Millburn Ridgefield Corp purchased a new stake in shares of Oceaneering International during the 3rd quarter valued at $57,000. Smartleaf Asset Management LLC boosted its position in shares of Oceaneering International by 354.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 3,157 shares in the last quarter. KBC Group NV grew its stake in Oceaneering International by 72.6% during the 4th quarter. KBC Group NV now owns 5,210 shares of the oil and gas company’s stock worth $136,000 after buying an additional 2,192 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its stake in Oceaneering International by 12.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 7,850 shares of the oil and gas company’s stock worth $205,000 after buying an additional 840 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Price Performance

Shares of OII opened at $20.18 on Friday. The company has a market capitalization of $2.03 billion, a P/E ratio of 14.01 and a beta of 2.42. The business’s 50-day moving average is $24.21 and its two-hundred day moving average is $25.45. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74. Oceaneering International, Inc. has a fifty-two week low of $18.87 and a fifty-two week high of $30.98.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. The company had revenue of $713.45 million for the quarter, compared to analysts’ expectations of $681.60 million. Research analysts predict that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

OII has been the subject of several recent analyst reports. TD Cowen raised their price target on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. Pickering Energy Partners lowered shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 14th. Barclays lowered their price objective on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 5th. Finally, Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.25.

Oceaneering International 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.