Principal Financial Group Inc. Grows Stock Position in Oceaneering International, Inc. (NYSE:OII)

Principal Financial Group Inc. grew its holdings in Oceaneering International, Inc. (NYSE:OII) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 527,149 shares of the oil and gas company’s stock after acquiring an additional 16,269 shares during the quarter. Principal Financial Group Inc.’s holdings in Oceaneering International were worth $13,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Captrust Financial Advisors increased its stake in Oceaneering International by 3.9% in the third quarter. Captrust Financial Advisors now owns 15,271 shares of the oil and gas company’s stock worth $380,000 after purchasing an additional 578 shares during the period. HighTower Advisors LLC increased its stake in Oceaneering International by 6.3% in the third quarter. HighTower Advisors LLC now owns 11,616 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 687 shares during the period. Empowered Funds LLC increased its stake in Oceaneering International by 0.6% in the fourth quarter. Empowered Funds LLC now owns 118,466 shares of the oil and gas company’s stock worth $3,090,000 after purchasing an additional 757 shares during the period. Central Pacific Bank Trust Division increased its stake in Oceaneering International by 12.0% in the fourth quarter. Central Pacific Bank Trust Division now owns 7,850 shares of the oil and gas company’s stock worth $205,000 after purchasing an additional 840 shares during the period. Finally, R Squared Ltd purchased a new stake in Oceaneering International in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on OII shares. StockNews.com upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. TD Cowen increased their price target on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Citigroup downgraded Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research report on Friday, January 10th. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $22.00 to $26.00 in a research report on Wednesday, December 18th. Finally, Pickering Energy Partners downgraded Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.25.

Oceaneering International Price Performance

OII opened at $22.14 on Thursday. Oceaneering International, Inc. has a 12-month low of $19.68 and a 12-month high of $30.98. The company has a current ratio of 1.74, a quick ratio of 1.46 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $25.50 and its 200-day simple moving average is $25.98. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 15.38 and a beta of 2.38.

Oceaneering International (NYSE:OII) last issued its quarterly earnings data on Wednesday, February 19th. The oil and gas company reported $0.37 earnings per share 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 the consensus estimate of $681.60 million. On average, equities research analysts anticipate that Oceaneering International, Inc. will post 1.78 earnings per share 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.