Wedge Capital Management L L P NC purchased a new stake in Oceaneering International (NYSE:OII) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 35,241 shares of the oil and gas company’s stock, valued at approximately $556,000.
Several other hedge funds and other institutional investors have also bought and sold shares of OII. Norges Bank bought a new stake in shares of Oceaneering International in the fourth quarter valued at approximately $17,277,000. Brandywine Global Investment Management LLC increased its holdings in Oceaneering International by 58.4% during the 4th quarter. Brandywine Global Investment Management LLC now owns 2,488,121 shares of the oil and gas company’s stock worth $30,107,000 after acquiring an additional 917,174 shares during the period. Federated Investors Inc. PA increased its holdings in Oceaneering International by 3,067.8% during the 3rd quarter. Federated Investors Inc. PA now owns 759,517 shares of the oil and gas company’s stock worth $20,962,000 after acquiring an additional 735,541 shares during the period. Van ECK Associates Corp increased its holdings in Oceaneering International by 65.0% during the 4th quarter. Van ECK Associates Corp now owns 1,761,332 shares of the oil and gas company’s stock worth $21,312,000 after acquiring an additional 694,036 shares during the period. Finally, Deutsche Bank AG increased its holdings in Oceaneering International by 221.9% during the 4th quarter. Deutsche Bank AG now owns 815,429 shares of the oil and gas company’s stock worth $9,864,000 after acquiring an additional 562,134 shares during the period.
OII stock traded down $0.05 during midday trading on Thursday, reaching $19.08. The company had a trading volume of 19,500 shares, compared to its average volume of 1,147,626. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.44 and a quick ratio of 2.03. Oceaneering International has a 1 year low of $10.74 and a 1 year high of $28.62. The stock has a market cap of $1.89 billion, a PE ratio of -26.85 and a beta of 2.09.
A number of analysts recently weighed in on OII shares. Zacks Investment Research raised shares of Oceaneering International from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. SunTrust Banks set a $19.00 target price on shares of Oceaneering International and gave the stock a “hold” rating in a report on Tuesday, February 26th. JPMorgan Chase & Co. started coverage on shares of Oceaneering International in a report on Thursday, January 17th. They set an “underweight” rating on the stock. Goldman Sachs Group started coverage on shares of Oceaneering International in a report on Sunday, March 10th. They set a “neutral” rating and a $18.00 target price on the stock. Finally, ValuEngine raised shares of Oceaneering International from a “sell” rating to a “hold” rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Oceaneering International has a consensus rating of “Hold” and a consensus price target of $21.71.
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About Oceaneering International
Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.
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