Assenagon Asset Management S.A. acquired a new position in shares of Oceaneering International (NYSE:OII) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 136,870 shares of the oil and gas company’s stock, valued at approximately $1,855,000. Assenagon Asset Management S.A. owned approximately 0.14% of Oceaneering International at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Dalton Greiner Hartman Maher & Co. increased its position in Oceaneering International by 34.6% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 961,790 shares of the oil and gas company’s stock worth $13,032,000 after purchasing an additional 247,479 shares in the last quarter. Cerebellum GP LLC acquired a new position in Oceaneering International during the 3rd quarter worth approximately $32,000. State of Alaska Department of Revenue acquired a new position in Oceaneering International during the 3rd quarter worth approximately $238,000. Royal Bank of Canada increased its position in Oceaneering International by 778.7% during the 2nd quarter. Royal Bank of Canada now owns 38,116 shares of the oil and gas company’s stock worth $777,000 after purchasing an additional 33,778 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Oceaneering International during the 2nd quarter worth approximately $299,000. Institutional investors and hedge funds own 95.37% of the company’s stock.
Shares of NYSE OII opened at $13.29 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.43. Oceaneering International has a 52-week low of $10.74 and a 52-week high of $24.47. The firm has a 50 day moving average price of $13.71 and a two-hundred day moving average price of $16.11. The stock has a market cap of $1.36 billion, a P/E ratio of -18.72 and a beta of 2.19.
A number of equities analysts recently issued reports on OII shares. Citigroup lowered their price objective on shares of Oceaneering International from $22.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. ValuEngine cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada set a $20.00 price target on shares of Oceaneering International and gave the company a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Oceaneering International currently has an average rating of “Hold” and an average target price of $18.20.
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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