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

Principal Financial Group Inc. raised its stake in Oceaneering International, Inc. (NYSE:OII) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 510,880 shares of the oil and gas company’s stock after purchasing an additional 7,037 shares during the period. Principal Financial Group Inc. owned 0.51% of Oceaneering International worth $12,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Algert Global LLC grew its position in shares of Oceaneering International by 23.1% in the 3rd quarter. Algert Global LLC now owns 100,013 shares of the oil and gas company’s stock valued at $2,487,000 after buying an additional 18,760 shares during the last quarter. Stifel Financial Corp boosted its stake in Oceaneering International by 51.8% in the third quarter. Stifel Financial Corp now owns 68,943 shares of the oil and gas company’s stock valued at $1,715,000 after acquiring an additional 23,512 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Oceaneering International by 32.3% during the third quarter. Fisher Asset Management LLC now owns 132,363 shares of the oil and gas company’s stock worth $3,292,000 after purchasing an additional 32,297 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of 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 purchasing an additional 1,105,263 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of 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 purchasing an additional 24,283 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

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

Oceaneering International Stock Performance

Shares of OII stock opened at $25.20 on Friday. Oceaneering International, Inc. has a 52-week low of $18.95 and a 52-week high of $30.98. The stock’s 50-day moving average price is $26.76 and its 200 day moving average price is $25.76. The company has a quick ratio of 1.46, a current ratio of 1.76 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $2.55 billion, a PE ratio of 19.09 and a beta of 2.39.

Oceaneering International (NYSE:OII) last released 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). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The company had revenue of $679.81 million during the quarter, compared to analyst estimates of $693.69 million. During the same period in the previous year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Oceaneering International, Inc. will post 1.4 EPS for the current year.

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.