By otakuyassine3@gmail.com 
Corebridge Financial Inc. cut its holdings in Oceaneering International, Inc. (NYSE:OII – Free Report) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,818 shares of the oil and gas company’s stock after selling 4,218 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Oceaneering International worth $1,404,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Inspire Advisors LLC boosted 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 valued at $231,000 after buying an additional 411 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Oceaneering International by 0.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 71,032 shares of the oil and gas company’s stock valued at $1,853,000 after acquiring an additional 446 shares during the last quarter. LPL Financial LLC grew its stake in shares of Oceaneering International by 0.8% in the fourth quarter. LPL Financial LLC now owns 56,253 shares of the oil and gas company’s stock worth $1,467,000 after acquiring an additional 451 shares during the period. Captrust Financial Advisors raised its holdings in shares of Oceaneering International by 3.9% during the third quarter. Captrust Financial Advisors now owns 15,271 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 578 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Oceaneering International by 6.3% during the third quarter. HighTower Advisors LLC now owns 11,616 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 687 shares during the period. 93.93% of the stock is currently owned by hedge funds and other institutional investors.
Oceaneering International Stock Down 13.1 %
OII stock opened at $19.61 on Friday. The business’s 50-day moving average price is $22.77 and its 200-day moving average price is $25.13. The stock has a market cap of $1.97 billion, a P/E ratio of 13.61 and a beta of 2.42. The company has a quick ratio of 1.46, a current ratio of 1.74 and a debt-to-equity ratio of 0.67. Oceaneering International, Inc. has a twelve month low of $18.87 and a twelve month high of $30.98.
Oceaneering International (NYSE:OII – Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $713.45 million for 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%. On average, equities research analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on OII. Pickering Energy Partners upgraded shares of Oceaneering International from an “underperform” rating to a “neutral” rating in a research note on Wednesday. StockNews.com downgraded Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. TD Cowen boosted their price target on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Citigroup cut shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a research note on Friday, January 10th. Finally, Barclays cut their target price on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Oceaneering International currently has an average rating of “Hold” and an average target price of $28.25.
Get Our Latest Analysis on OII
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.
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