PNC Financial Services Group Inc. Increases Holdings in Oceaneering International, Inc. (NYSE:OII)

PNC Financial Services Group Inc. raised its stake in shares of Oceaneering International, Inc. (NYSE:OII) by 12.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,102 shares of the oil and gas company’s stock after buying an additional 1,256 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Oceaneering International were worth $242,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Summit Investment Advisors Inc. raised its stake in shares of Oceaneering International by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,575 shares of the oil and gas company’s stock worth $276,000 after purchasing an additional 584 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Oceaneering International by 29.7% in the first quarter. GAMMA Investing LLC now owns 3,104 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 711 shares during the last quarter. Foundry Partners LLC raised its stake in shares of Oceaneering International by 8.5% in the first quarter. Foundry Partners LLC now owns 13,918 shares of the oil and gas company’s stock worth $304,000 after purchasing an additional 1,096 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Oceaneering International by 5.5% in the fourth quarter. Bank of Montreal Can now owns 21,387 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 1,119 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in shares of Oceaneering International by 17.6% in the first quarter. Central Pacific Bank Trust Division now owns 9,230 shares of the oil and gas company’s stock worth $201,000 after purchasing an additional 1,380 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

OII has been the subject of several recent analyst reports. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Barclays boosted their price target on Oceaneering International from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Oceaneering International currently has a consensus rating of “Hold” and a consensus price target of $28.25.

Oceaneering International Price Performance

Shares of Oceaneering International stock opened at $22.35 on Friday. The stock’s 50-day simple moving average is $21.48 and its 200-day simple moving average is $20.81. Oceaneering International, Inc. has a 52 week low of $15.46 and a 52 week high of $30.98. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 11.29 and a beta of 1.55. The company has a quick ratio of 1.67, a current ratio of 2.00 and a debt-to-equity ratio of 0.57.

Oceaneering International (NYSE:OII) last announced its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.42 by $0.07. Oceaneering International had a return on equity of 22.09% and a net margin of 7.31%. The business had revenue of $698.16 million for the quarter, compared to the consensus estimate of $676.81 million. During the same period in the previous year, the business earned $0.28 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. As a group, analysts expect that Oceaneering International, Inc. will post 1.78 earnings per share for the current fiscal 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.