Franklin Resources Inc. Raises Stock Holdings in Oceaneering International, Inc. (NYSE:OII)

Franklin Resources Inc. raised its position in shares of Oceaneering International, Inc. (NYSE:OII) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,928,780 shares of the oil and gas company’s stock after purchasing an additional 57,193 shares during the period. Franklin Resources Inc.’s holdings in Oceaneering International were worth $49,647,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of OII. Earnest Partners LLC boosted its position in shares of Oceaneering International by 21.0% in the 2nd quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock worth $150,601,000 after purchasing an additional 1,105,263 shares in the last quarter. State Street Corp raised its stake in Oceaneering International by 2.1% during the third quarter. State Street Corp now owns 5,221,049 shares of the oil and gas company’s stock valued at $129,847,000 after buying an additional 107,394 shares during the last quarter. FMR LLC boosted its holdings in Oceaneering International by 1.3% in the third quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock worth $72,023,000 after acquiring an additional 36,593 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Oceaneering International by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,705,341 shares of the oil and gas company’s stock worth $64,003,000 after acquiring an additional 43,941 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Oceaneering International by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,279,039 shares of the oil and gas company’s stock valued at $56,691,000 after acquiring an additional 26,328 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Trading Down 0.4 %

Shares of NYSE:OII opened at $25.28 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.76 and a quick ratio of 1.46. Oceaneering International, Inc. has a 1 year low of $18.95 and a 1 year high of $30.98. The company has a market cap of $2.55 billion, a P/E ratio of 19.15 and a beta of 2.39. The stock’s fifty day moving average price is $26.83 and its 200-day moving average price is $25.59.

Oceaneering International (NYSE:OII) last posted its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The company had revenue of $679.81 million for the quarter, compared to the consensus estimate of $693.69 million. During the same quarter in the prior year, the company posted $0.38 EPS. Oceaneering International’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts expect that Oceaneering International, Inc. will post 1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a research note on Friday, October 25th. Barclays dropped their target price on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Thursday, October 31st.

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.