Oceaneering International, Inc. (NYSE:OII) Position Reduced by West Tower Group LLC

West Tower Group LLC trimmed its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 21.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,000 shares of the oil and gas company’s stock after selling 7,500 shares during the quarter. Oceaneering International makes up 1.6% of West Tower Group LLC’s portfolio, making the stock its 17th biggest position. West Tower Group LLC’s holdings in Oceaneering International were worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Oceaneering International during the 4th quarter valued at $40,000. Millburn Ridgefield Corp acquired a new stake in shares of Oceaneering International during the third quarter worth $57,000. Smartleaf Asset Management LLC raised its holdings in shares of Oceaneering International by 354.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,047 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 3,157 shares during the period. KBC Group NV raised its holdings in shares of Oceaneering International by 72.6% during the fourth quarter. KBC Group NV now owns 5,210 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 2,192 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Oceaneering International during the third quarter worth $202,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Stock Up 1.9 %

OII stock opened at $21.01 on Wednesday. The firm’s 50-day simple moving average is $23.94 and its 200 day simple moving average is $25.33. The stock has a market cap of $2.11 billion, a PE ratio of 14.59 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 fifty-two week low of $18.87 and a fifty-two week high of $30.98.

Oceaneering International (NYSE:OII) last announced its earnings results on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The company had revenue of $713.45 million during the quarter, compared to the consensus estimate of $681.60 million. Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. As a group, sell-side analysts predict that Oceaneering International, Inc. will post 1.78 EPS for the current year.

Analyst Upgrades and Downgrades

OII has been the topic of a number of research reports. Citigroup cut shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a report on Friday, January 10th. TD Cowen increased their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. StockNews.com cut shares of Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Barclays dropped their price objective on shares of Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Finally, Pickering Energy Partners cut shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.25.

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.