Wedge Capital Management L L P NC Trims Holdings in Oceaneering International (NYSE:OII)

Wedge Capital Management L L P NC trimmed its stake in Oceaneering International (NYSE:OII) by 26.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 25,915 shares of the oil and gas company’s stock after selling 9,326 shares during the period. Wedge Capital Management L L P NC’s holdings in Oceaneering International were worth $528,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. purchased a new stake in shares of Oceaneering International in the 1st quarter valued at approximately $44,000. DekaBank Deutsche Girozentrale increased its stake in Oceaneering International by 47.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,622 shares of the oil and gas company’s stock worth $244,000 after buying an additional 2,774 shares during the period. Manchester Capital Management LLC purchased a new stake in Oceaneering International during the 1st quarter worth approximately $163,000. Nisa Investment Advisors LLC increased its stake in Oceaneering International by 54.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the oil and gas company’s stock worth $230,000 after buying an additional 4,000 shares during the period. Finally, Bbva Compass Bancshares Inc. increased its stake in Oceaneering International by 16.3% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 11,685 shares of the oil and gas company’s stock worth $184,000 after buying an additional 1,636 shares during the period. 96.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:OII traded up $0.49 during trading hours on Friday, reaching $12.07. The stock had a trading volume of 984,200 shares, compared to its average volume of 1,501,151. Oceaneering International has a 1 year low of $10.74 and a 1 year high of $28.62. The firm’s 50 day moving average is $16.81 and its 200-day moving average is $16.79. The company has a current ratio of 2.43, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.



Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.07). Oceaneering International had a negative net margin of 9.49% and a negative return on equity of 4.38%. The firm had revenue of $495.78 million during the quarter, compared to analysts’ expectations of $524.97 million. During the same period in the prior year, the company posted ($0.23) earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts predict that Oceaneering International will post -0.85 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on OII shares. ValuEngine downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada set a $20.00 target price on shares of Oceaneering International and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays reaffirmed a “buy” rating and set a $21.00 target price on shares of Oceaneering International in a research note on Sunday, May 5th. Citigroup cut their target price on shares of Oceaneering International from $22.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Seaport Global Securities raised shares of Oceaneering International from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $18.20.

About Oceaneering International

Oceaneering International, Inc provides engineered services and products to the offshore oil and gas industry, as well as to defense, aerospace, and commercial theme park industries worldwide. The company's Remotely Operated Vehicles (ROVs) segment offers submersible vehicles for drill support, vessel-based inspection, maintenance and repair, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance services.

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Institutional Ownership by Quarter for Oceaneering International (NYSE:OII)

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