JPMorgan Chase & Co. Decreases Holdings in Oceaneering International, Inc. (NYSE:OII)

JPMorgan Chase & Co. lowered its position in Oceaneering International, Inc. (NYSE:OII) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,929 shares of the oil and gas company’s stock after selling 19,100 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.53% of Oceaneering International worth $13,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of OII. Ashton Thomas Private Wealth LLC bought a new position in Oceaneering International during the 2nd quarter worth approximately $38,000. Farther Finance Advisors LLC grew its holdings in shares of Oceaneering International by 3,594.3% in the third quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,905 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in shares of Oceaneering International in the third quarter worth $57,000. GAMMA Investing LLC increased its stake in shares of Oceaneering International by 108.3% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the oil and gas company’s stock worth $68,000 after buying an additional 1,412 shares during the period. Finally, CWM LLC raised its holdings in Oceaneering International by 165.5% during the 3rd quarter. CWM LLC now owns 6,935 shares of the oil and gas company’s stock valued at $172,000 after buying an additional 4,323 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Price Performance

Shares of NYSE OII opened at $26.44 on Friday. Oceaneering International, Inc. has a 1 year low of $18.95 and a 1 year high of $30.98. The stock has a market capitalization of $2.67 billion, a P/E ratio of 20.03 and a beta of 2.41. The company’s 50-day moving average is $27.23 and its 200 day moving average is $26.11. 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 quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.08). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The firm had revenue of $679.81 million for the quarter, compared to the consensus estimate of $693.69 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts expect that Oceaneering International, Inc. will post 1.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on OII. TD Cowen boosted their price objective on shares of Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays upgraded Oceaneering International from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $22.00 to $26.00 in a report on Wednesday, December 18th. Citigroup cut Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a report on Friday. Finally, Benchmark reissued a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.25.

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.