Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Oceaneering International, Inc. (NYSE:OII)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Oceaneering International, Inc. (NYSE:OII) by 7.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,373 shares of the oil and gas company’s stock after purchasing an additional 1,415 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Oceaneering International were worth $506,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wedge Capital Management L L P NC grew its stake in Oceaneering International by 0.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 66,685 shares of the oil and gas company’s stock worth $1,578,000 after buying an additional 450 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Oceaneering International by 0.4% during the first quarter. Concurrent Investment Advisors LLC now owns 126,350 shares of the oil and gas company’s stock worth $2,957,000 after acquiring an additional 465 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Oceaneering International by 5.4% during the first quarter. Bleakley Financial Group LLC now owns 12,158 shares of the oil and gas company’s stock valued at $284,000 after acquiring an additional 628 shares in the last quarter. Shell Asset Management Co. raised its position in shares of Oceaneering International by 5.2% in the 1st quarter. Shell Asset Management Co. now owns 15,086 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 749 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Oceaneering International by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 51,000 shares of the oil and gas company’s stock worth $1,207,000 after purchasing an additional 1,100 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on OII shares. Benchmark restated a “buy” rating and set a $34.00 price target on shares of Oceaneering International in a research note on Thursday, July 25th. Barclays raised their target price on Oceaneering International from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Finally, Citigroup boosted their price target on Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd.

Oceaneering International Stock Performance

Shares of NYSE OII opened at $23.60 on Friday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 22.26 and a beta of 2.39. Oceaneering International, Inc. has a 12 month low of $18.67 and a 12 month high of $30.45. The company has a 50 day simple moving average of $26.15 and a two-hundred day simple moving average of $23.85. The company has a current ratio of 1.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.73.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $668.81 million for the quarter, compared to analyst estimates of $656.87 million. Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. As a group, analysts predict that Oceaneering International, Inc. will post 1.42 earnings per share for the current year.

Insider Activity

In related news, Director M Kevin Mcevoy sold 9,675 shares of Oceaneering International stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total transaction of $252,711.00. Following the completion of the transaction, the director now directly owns 141,837 shares in the company, valued at $3,704,782.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director M Kevin Mcevoy sold 9,675 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total transaction of $252,711.00. Following the sale, the director now directly owns 141,837 shares of the company’s stock, valued at $3,704,782.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Earl Childress sold 10,000 shares of Oceaneering International stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the completion of the transaction, the senior vice president now directly owns 57,351 shares of the company’s stock, valued at approximately $1,473,920.70. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Oceaneering International Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.