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Oceaneering International (NYSE:OII) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

By September 2, 2019 No Comments

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Oceaneering International (NYSE:OII) by 28.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,250 shares of the oil and gas company’s stock after purchasing an additional 11,850 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Oceaneering International worth $1,086,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp raised its position in Oceaneering International by 56.1% during the second quarter. Van ECK Associates Corp now owns 1,800,526 shares of the oil and gas company’s stock worth $36,713,000 after acquiring an additional 647,261 shares during the period. Bbva USA Bancshares Inc. raised its position in shares of Oceaneering International by 10.8% in the second quarter. Bbva USA Bancshares Inc. now owns 12,942 shares of the oil and gas company’s stock valued at $264,000 after buying an additional 1,257 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Oceaneering International by 1.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 60,644 shares of the oil and gas company’s stock valued at $1,237,000 after buying an additional 740 shares during the last quarter. Swiss National Bank raised its position in shares of Oceaneering International by 2.1% in the second quarter. Swiss National Bank now owns 183,348 shares of the oil and gas company’s stock valued at $3,738,000 after buying an additional 3,700 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Oceaneering International by 6.5% in the second quarter. Envestnet Asset Management Inc. now owns 17,381 shares of the oil and gas company’s stock valued at $354,000 after buying an additional 1,055 shares during the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

OII has been the subject of a number of recent research reports. Citigroup reduced their target price 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. Barclays reiterated a “buy” rating and issued a $21.00 target price on shares of Oceaneering International in a research report on Sunday, May 5th. Seaport Global Securities upgraded shares of Oceaneering International from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada set a $20.00 target price on shares of Oceaneering International and gave the company a “buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $18.20.

Shares of NYSE OII opened at $12.96 on Monday. Oceaneering International has a 52 week low of $10.74 and a 52 week high of $28.62. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -18.25 and a beta of 2.14. The firm has a 50-day simple moving average of $14.78 and a 200-day simple moving average of $16.57. The company has a quick ratio of 2.01, a current ratio of 2.43 and a debt-to-equity ratio of 0.71.

Oceaneering International (NYSE:OII) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.07). Oceaneering International had a negative return on equity of 4.38% and a negative net margin of 9.49%. The firm had revenue of $495.78 million for the quarter, compared to analyst estimates of $524.97 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. Oceaneering International’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities research analysts expect that Oceaneering International will post -0.86 EPS for the current year.

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

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