Cornercap Investment Counsel Inc. Makes New Investment in Oceaneering International, Inc. (NYSE:OII)

Cornercap Investment Counsel Inc. acquired a new stake in shares of Oceaneering International, Inc. (NYSE:OII) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,751 shares of the oil and gas company’s stock, valued at approximately $202,000.

A number of other large investors also recently modified their holdings of the company. R Squared Ltd bought a new position in Oceaneering International in the 4th quarter worth approximately $40,000. Millburn Ridgefield Corp bought a new position in shares of Oceaneering International during the third quarter worth $57,000. Smartleaf Asset Management LLC grew its stake in Oceaneering International by 354.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock valued at $104,000 after acquiring an additional 3,157 shares in the last quarter. KBC Group NV increased its holdings in Oceaneering International by 72.6% in the 4th quarter. KBC Group NV now owns 5,210 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 2,192 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Oceaneering International in the 4th quarter valued at $156,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OII. Pickering Energy Partners lowered Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Barclays reduced their price objective on Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Citigroup downgraded Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Friday, January 10th. TD Cowen boosted their price target on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.25.

Oceaneering International Price Performance

NYSE:OII opened at $21.60 on Monday. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 15.00 and a beta of 2.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.74 and a quick ratio of 1.46. The business has a 50 day simple moving average of $23.18 and a 200-day simple moving average of $25.20. Oceaneering International, Inc. has a 1 year low of $18.87 and a 1 year high of $30.98.

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

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.