Federated Hermes Inc. Sells 17,890 Shares of Oceaneering International, Inc. (NYSE:OII)

Federated Hermes Inc. decreased its holdings in shares of Oceaneering International, Inc. (NYSE:OII) by 7.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 238,261 shares of the oil and gas company’s stock after selling 17,890 shares during the period. Federated Hermes Inc. owned 0.24% of Oceaneering International worth $5,070,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Louisiana State Employees Retirement System purchased a new position in Oceaneering International during the fourth quarter valued at approximately $1,073,000. Invesco Ltd. increased its holdings in shares of Oceaneering International by 27.0% in the 3rd quarter. Invesco Ltd. now owns 1,202,565 shares of the oil and gas company’s stock valued at $30,930,000 after acquiring an additional 256,036 shares during the period. FMR LLC raised its position in shares of Oceaneering International by 18.9% in the 3rd quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock worth $114,134,000 after acquiring an additional 705,534 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in shares of Oceaneering International by 541.1% during the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after purchasing an additional 829,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Oceaneering International by 79.3% during the third quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock valued at $42,704,000 after purchasing an additional 734,518 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Performance

OII opened at $24.55 on Friday. The company has a market cap of $2.49 billion, a P/E ratio of 23.16 and a beta of 2.49. 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 firm’s 50-day moving average price is $22.49 and its 200-day moving average price is $21.79. 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). Oceaneering International had a return on equity of 15.10% and a net margin of 4.36%. The company had revenue of $599.09 million during the quarter, compared to analysts’ expectations of $613.58 million. As a group, equities analysts anticipate that Oceaneering International, Inc. will post 1.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.