Cibc World Markets Corp Takes Position in Oceaneering International, Inc. (NYSE:OII)

Cibc World Markets Corp purchased a new position in shares of Oceaneering International, Inc. (NYSE:OII) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,459 shares of the oil and gas company’s stock, valued at approximately $247,000.

Other hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its stake in shares of Oceaneering International by 5.2% during the fourth quarter. Natixis Advisors LLC now owns 37,928 shares of the oil and gas company’s stock valued at $989,000 after buying an additional 1,883 shares during the last quarter. Picton Mahoney Asset Management grew its position in Oceaneering International by 59.1% in the 4th quarter. Picton Mahoney Asset Management now owns 15,631 shares of the oil and gas company’s stock valued at $408,000 after acquiring an additional 5,804 shares during the last quarter. Swiss National Bank increased its stake in Oceaneering International by 0.5% in the fourth quarter. Swiss National Bank now owns 199,648 shares of the oil and gas company’s stock worth $5,207,000 after purchasing an additional 1,000 shares during the period. Inspire Advisors LLC lifted its position in shares of Oceaneering International by 4.9% during the fourth quarter. Inspire Advisors LLC now owns 8,848 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 411 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Oceaneering International by 36.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,204 shares of the oil and gas company’s stock valued at $762,000 after purchasing an additional 7,831 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on OII. StockNews.com downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. Citigroup lowered shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Friday, January 10th. Pickering Energy Partners lowered Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. TD Cowen lifted their target price on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Finally, Barclays lowered their target price on Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Oceaneering International currently has an average rating of “Hold” and an average price target of $28.25.

Oceaneering International Price Performance

NYSE OII opened at $22.08 on Wednesday. The company has a market cap of $2.22 billion, a PE ratio of 15.33 and a beta of 2.42. Oceaneering International, Inc. has a 52-week low of $18.87 and a 52-week high of $30.98. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74. The firm’s 50 day moving average price is $23.46 and its 200-day moving average price is $25.22.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $713.45 million during the quarter, compared to analysts’ expectations of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. Sell-side analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

About Oceaneering International

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.