Principal Financial Group Inc. Increases Stock Position in Oceaneering International, Inc. (NYSE:OII)

Principal Financial Group Inc. lifted its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 510,880 shares of the oil and gas company’s stock after buying an additional 7,037 shares during the period. Principal Financial Group Inc.’s holdings in Oceaneering International were worth $12,706,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Algert Global LLC raised its position in Oceaneering International by 23.1% in the third quarter. Algert Global LLC now owns 100,013 shares of the oil and gas company’s stock worth $2,487,000 after acquiring an additional 18,760 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Oceaneering International by 51.8% during the 3rd quarter. Stifel Financial Corp now owns 68,943 shares of the oil and gas company’s stock worth $1,715,000 after purchasing an additional 23,512 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Oceaneering International by 32.3% in the 3rd quarter. Fisher Asset Management LLC now owns 132,363 shares of the oil and gas company’s stock valued at $3,292,000 after purchasing an additional 32,297 shares in the last quarter. Earnest Partners LLC boosted its holdings in Oceaneering International by 21.0% during the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after buying an additional 1,105,263 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Oceaneering International by 10.0% during the second quarter. Envestnet Asset Management Inc. now owns 266,885 shares of the oil and gas company’s stock worth $6,314,000 after buying an additional 24,283 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Oceaneering International Stock Down 0.4 %

Shares of NYSE OII opened at $25.20 on Friday. The firm’s 50-day moving average is $26.76 and its two-hundred day moving average is $25.76. The company has a market capitalization of $2.55 billion, a PE ratio of 19.09 and a beta of 2.39. Oceaneering International, Inc. has a 12-month low of $18.95 and a 12-month high of $30.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). The company had revenue of $679.81 million during the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. Oceaneering International’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts anticipate that Oceaneering International, Inc. will post 1.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OII has been the subject of a number of research reports. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $22.00 to $26.00 in a research report on Wednesday, December 18th. Benchmark reaffirmed a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a report on Friday, October 25th.

Oceaneering International Company 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.