Northwestern Mutual Investment Management Company LLC grew its stake in Oceaneering International, Inc. (NYSE:OII) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,929 shares of the oil and gas company’s stock after purchasing an additional 28 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Oceaneering International were worth $505,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of OII. BlackRock Inc. raised its holdings in Oceaneering International by 10,555.3% in the 1st quarter. BlackRock Inc. now owns 8,513,376 shares of the oil and gas company’s stock worth $230,542,000 after purchasing an additional 8,433,478 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Oceaneering International by 91.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,015,114 shares of the oil and gas company’s stock worth $81,648,000 after purchasing an additional 1,443,300 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Oceaneering International by 34.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,199,714 shares of the oil and gas company’s stock worth $59,569,000 after purchasing an additional 565,334 shares in the last quarter. Teachers Advisors LLC raised its holdings in Oceaneering International by 131.6% in the 1st quarter. Teachers Advisors LLC now owns 967,472 shares of the oil and gas company’s stock worth $26,199,000 after purchasing an additional 549,786 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Oceaneering International by 379.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 262,217 shares of the oil and gas company’s stock worth $5,989,000 after purchasing an additional 355,890 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.
Shares of Oceaneering International, Inc. (OII) opened at 25.36 on Wednesday. The company’s 50-day moving average is $23.85 and its 200 day moving average is $25.03. The stock’s market capitalization is $2.49 billion. Oceaneering International, Inc. has a 12 month low of $20.74 and a 12 month high of $32.12.
Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, July 26th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. Oceaneering International had a positive return on equity of 1.14% and a negative net margin of 1.41%. The company had revenue of $515.04 million for the quarter, compared to analyst estimates of $481.86 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was down 17.7% compared to the same quarter last year. Equities research analysts predict that Oceaneering International, Inc. will post ($0.04) earnings per share for the current 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 paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 2.37%. Oceaneering International’s dividend payout ratio (DPR) is presently -206.90%.
OII has been the subject of several research reports. Royal Bank Of Canada restated a “sell” rating and issued a $25.00 price objective on shares of Oceaneering International in a report on Thursday, July 20th. BidaskClub lowered shares of Oceaneering International from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Zacks Investment Research lowered shares of Oceaneering International from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Seaport Global Securities restated a “neutral” rating on shares of Oceaneering International in a report on Thursday, July 20th. Finally, Scotiabank set a $37.00 price objective on shares of Oceaneering International and gave the stock a “buy” rating in a report on Tuesday, June 13th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $28.55.
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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).
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