Mitsubishi UFJ Asset Management Co. Ltd. Reduces Stock Position in Oceaneering International, Inc. (NYSE:OII)

Mitsubishi UFJ Asset Management Co. Ltd. decreased its position in shares of Oceaneering International, Inc. (NYSE:OII) by 15.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,523 shares of the oil and gas company’s stock after selling 11,817 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.06% of Oceaneering International worth $1,742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. boosted its position in Oceaneering International by 14.3% during the fourth quarter. American Century Companies Inc. now owns 2,841,710 shares of the oil and gas company’s stock worth $74,112,000 after purchasing an additional 355,290 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Oceaneering International by 191.7% in the 4th quarter. Fisher Asset Management LLC now owns 386,068 shares of the oil and gas company’s stock worth $10,069,000 after buying an additional 253,705 shares in the last quarter. Congress Asset Management Co. grew its stake in Oceaneering International by 11.2% in the 4th quarter. Congress Asset Management Co. now owns 1,736,307 shares of the oil and gas company’s stock valued at $45,283,000 after acquiring an additional 175,434 shares during the last quarter. Barclays PLC increased its holdings in Oceaneering International by 334.5% during the 3rd quarter. Barclays PLC now owns 180,470 shares of the oil and gas company’s stock valued at $4,489,000 after acquiring an additional 138,931 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Oceaneering International by 8.9% during the fourth quarter. Van ECK Associates Corp now owns 1,568,481 shares of the oil and gas company’s stock worth $40,906,000 after acquiring an additional 128,187 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OII. Citigroup cut shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research note on Friday, January 10th. Barclays dropped their price target on 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. TD Cowen upped their price objective on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.25.

Oceaneering International Price Performance

Shares of NYSE:OII opened at $22.27 on Wednesday. The business has a fifty day simple moving average of $22.98 and a 200-day simple moving average of $25.19. Oceaneering International, Inc. has a 52 week low of $18.87 and a 52 week high of $30.98. The company has a market cap of $2.24 billion, a P/E ratio of 15.47 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 (NYSE:OII) last posted its quarterly earnings data on Wednesday, February 19th. The oil and gas company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Oceaneering International had a net margin of 5.54% and a return on equity of 17.29%. The company had revenue of $713.45 million for the quarter, compared to analyst estimates of $681.60 million. Equities research analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current 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.