Oceaneering International, Inc. (NYSE:OII) Position Raised by State Treasurer State of Michigan

State Treasurer State of Michigan boosted its stake in Oceaneering International, Inc. (NYSE:OII) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,500 shares of the oil and gas company’s stock after buying an additional 700 shares during the period. State Treasurer State of Michigan’s holdings in Oceaneering International were worth $925,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Westpac Banking Corp purchased a new stake in Oceaneering International during the first quarter valued at about $144,000. LS Investment Advisors LLC raised its position in shares of Oceaneering International by 18.4% in the second quarter. LS Investment Advisors LLC now owns 7,650 shares of the oil and gas company’s stock valued at $175,000 after buying an additional 1,188 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Oceaneering International by 4.0% in the first quarter. Teacher Retirement System of Texas now owns 7,808 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 300 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Oceaneering International by 7.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,814 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 560 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Oceaneering International during the first quarter valued at $259,000. 98.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Oceaneering International, Inc. (OII) opened at 22.57 on Friday. Oceaneering International, Inc. has a 52-week low of $20.74 and a 52-week high of $32.12. The firm’s 50 day moving average is $23.85 and its 200-day moving average is $25.53. The company’s market capitalization is $2.22 billion.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $515.04 million for the quarter, compared to the consensus estimate of $481.86 million. Oceaneering International had a negative net margin of 1.41% and a positive return on equity of 1.14%. Oceaneering International’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. Equities research analysts anticipate that Oceaneering International, Inc. will post ($0.04) earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 2.66%. Oceaneering International’s dividend payout ratio (DPR) is currently -206.90%.

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Several research analysts have weighed in on the stock. BidaskClub lowered shares of Oceaneering International from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Royal Bank Of Canada reissued a “sell” rating and set a $25.00 price objective on shares of Oceaneering International in a report on Thursday, July 20th. Seaport Global Securities lowered shares of Oceaneering International from a “neutral” rating to a “sell” rating and decreased their price target for the company from $24.00 to $19.00 in a report on Wednesday, June 21st. Scotiabank reaffirmed a “buy” rating and issued a $37.00 price target on shares of Oceaneering International in a report on Friday, April 28th. Finally, Piper Jaffray Companies set a $26.00 price target on shares of Oceaneering International and gave the company a “buy” rating in a report on Sunday, July 30th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Oceaneering International currently has an average rating of “Hold” and a consensus target price of $28.50.

About Oceaneering International

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).

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

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