Summit Investment Advisors Inc. Increases Position in Oceaneering International, Inc. (NYSE:OII)

Summit Investment Advisors Inc. grew its stake in Oceaneering International, Inc. (NYSE:OII) by 5.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,575 shares of the oil and gas company’s stock after acquiring an additional 584 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Oceaneering International were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Inspire Advisors LLC increased its stake in shares of Oceaneering International by 4.9% in the 4th quarter. Inspire Advisors LLC now owns 8,848 shares of the oil and gas company’s stock worth $231,000 after acquiring an additional 411 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Oceaneering International by 0.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 71,032 shares of the oil and gas company’s stock worth $1,853,000 after purchasing an additional 446 shares during the period. LPL Financial LLC boosted its holdings in Oceaneering International by 0.8% in the 4th quarter. LPL Financial LLC now owns 56,253 shares of the oil and gas company’s stock valued at $1,467,000 after purchasing an additional 451 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Oceaneering International by 6.3% in the 3rd quarter. HighTower Advisors LLC now owns 11,616 shares of the oil and gas company’s stock valued at $286,000 after buying an additional 687 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Oceaneering International by 0.6% in the 4th quarter. Empowered Funds LLC now owns 118,466 shares of the oil and gas company’s stock valued at $3,090,000 after buying an additional 757 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Oceaneering International Price Performance

Shares of NYSE OII opened at $17.42 on Tuesday. The firm has a market capitalization of $1.76 billion, a PE ratio of 12.10 and a beta of 1.94. Oceaneering International, Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $30.98. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.46 and a current ratio of 1.74. The stock’s 50-day simple moving average is $20.49 and its 200-day simple moving average is $24.32.

Oceaneering International (NYSE:OII) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $681.60 million. As a group, equities research analysts forecast that Oceaneering International, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OII. StockNews.com cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Barclays decreased their price target on Oceaneering International from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 5th. Pickering Energy Partners raised Oceaneering International from an “underperform” rating to a “neutral” rating in a research report on Wednesday, April 2nd. TD Cowen upped their target price on shares of Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, January 8th. Finally, Citigroup cut shares of Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.25.

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.