Sumitomo Mitsui Trust Holdings Inc. Cuts Holdings in Oceaneering International, Inc. (NYSE:OII)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 20.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 33,817 shares of the oil and gas company’s stock after selling 8,471 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Oceaneering International were worth $720,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in OII. SG Americas Securities LLC purchased a new position in shares of Oceaneering International in the 3rd quarter worth $876,000. Exchange Traded Concepts LLC purchased a new position in shares of Oceaneering International in the 3rd quarter worth $93,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Oceaneering International in the 3rd quarter worth $206,000. Raymond James & Associates boosted its stake in shares of Oceaneering International by 17.7% in the 3rd quarter. Raymond James & Associates now owns 58,092 shares of the oil and gas company’s stock worth $1,494,000 after buying an additional 8,729 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Oceaneering International by 79.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock worth $42,704,000 after buying an additional 734,518 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OII has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a report on Thursday. Barclays decreased their target price on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Finally, StockNews.com raised Oceaneering International from a “hold” rating to a “buy” rating in a report on Thursday, April 18th.

Oceaneering International Price Performance

NYSE:OII opened at $24.55 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.75. The business’s 50-day simple moving average is $22.49 and its two-hundred day simple moving average is $21.79. The stock has a market cap of $2.49 billion, a PE ratio of 25.84 and a beta of 2.49. Oceaneering International, Inc. has a 52 week low of $14.99 and a 52 week high of $27.46.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). Oceaneering International had a net margin of 4.02% and a return on equity of 14.00%. The business had revenue of $599.09 million for the quarter, compared to the consensus estimate of $613.58 million. As a group, analysts forecast that Oceaneering International, Inc. will post 1.54 EPS for the current fiscal year.

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.