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Corebridge Financial Inc. cut its position in Oceaneering International, Inc. (NYSE:OII – Free Report) by 1.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 52,782 shares of the oil and gas company’s stock after selling 1,036 shares during the quarter. Corebridge Financial Inc.’s holdings in Oceaneering International were worth $1,151,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Brown Advisory Inc. raised its holdings in shares of Oceaneering International by 27.6% during the first quarter. Brown Advisory Inc. now owns 6,545,919 shares of the oil and gas company’s stock valued at $142,767,000 after purchasing an additional 1,416,251 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Oceaneering International by 9.6% during the first quarter. American Century Companies Inc. now owns 3,113,578 shares of the oil and gas company’s stock valued at $67,907,000 after purchasing an additional 271,868 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Oceaneering International by 3.1% during the first quarter. Congress Asset Management Co. now owns 1,790,545 shares of the oil and gas company’s stock valued at $39,052,000 after purchasing an additional 54,238 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Oceaneering International by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,331,297 shares of the oil and gas company’s stock valued at $29,036,000 after purchasing an additional 32,639 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Oceaneering International by 19.4% during the fourth quarter. Northern Trust Corp now owns 1,230,886 shares of the oil and gas company’s stock valued at $32,102,000 after purchasing an additional 200,183 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on OII. Barclays boosted their price objective on shares of Oceaneering International from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Wall Street Zen cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.25.
Read Our Latest Analysis on Oceaneering International
Insider Buying and Selling at Oceaneering International
In other Oceaneering International news, CFO Alan R. Curtis sold 14,840 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $24.36, for a total value of $361,502.40. Following the completion of the transaction, the chief financial officer directly owned 155,259 shares in the company, valued at $3,782,109.24. This represents a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.
Oceaneering International Stock Performance
Shares of NYSE OII opened at $24.68 on Friday. The firm has a 50 day moving average of $22.24 and a 200 day moving average of $20.71. The company has a current ratio of 2.00, a quick ratio of 1.67 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 12.46 and a beta of 1.64. Oceaneering International, Inc. has a 12-month low of $15.46 and a 12-month high of $30.98.
Oceaneering International (NYSE:OII – Get Free Report) last announced its earnings results on Wednesday, July 23rd. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.07. The company had revenue of $698.16 million during the quarter, compared to analyst estimates of $676.81 million. Oceaneering International had a net margin of 7.31% and a return on equity of 22.09%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. On average, research analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share for the current year.
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.
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