Van ECK Associates Corp Acquires 128,187 Shares of Oceaneering International, Inc. (NYSE:OII)

Van ECK Associates Corp boosted its holdings in Oceaneering International, Inc. (NYSE:OII) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,568,481 shares of the oil and gas company’s stock after acquiring an additional 128,187 shares during the quarter. Van ECK Associates Corp owned 1.55% of Oceaneering International worth $40,906,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Oceaneering International in the 4th quarter worth about $40,000. Farther Finance Advisors LLC raised its position in shares of Oceaneering International by 3,594.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,905 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Oceaneering International in the 3rd quarter worth approximately $57,000. KBC Group NV raised its position in shares of Oceaneering International by 72.6% in the 4th quarter. KBC Group NV now owns 5,210 shares of the oil and gas company’s stock worth $136,000 after acquiring an additional 2,192 shares in the last quarter. Finally, CWM LLC raised its position in shares of Oceaneering International by 165.5% in the 3rd quarter. CWM LLC now owns 6,935 shares of the oil and gas company’s stock worth $172,000 after acquiring an additional 4,323 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on OII shares. Citigroup lowered Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research report on Friday, January 10th. Pickering Energy Partners lowered Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Barclays upgraded Oceaneering International from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $22.00 to $26.00 in a research note on Wednesday, December 18th. Benchmark restated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a research note on Friday, October 25th. Finally, TD Cowen raised their price target on Oceaneering International from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.25.

Oceaneering International Price Performance

NYSE OII opened at $25.31 on Friday. The company has a market capitalization of $2.56 billion, a PE ratio of 19.18 and a beta of 2.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76. The business’s fifty day moving average is $25.91 and its 200 day moving average is $26.19. Oceaneering International, Inc. has a fifty-two week low of $19.68 and a fifty-two week high of $30.98.

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.