Jennison Associates LLC Takes $1.18 Million Position in Oceaneering International, Inc. (NYSE:OII)

Jennison Associates LLC bought a new stake in Oceaneering International, Inc. (NYSE:OII) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 45,170 shares of the oil and gas company’s stock, valued at approximately $1,178,000.

Other hedge funds also recently modified their holdings of the company. Algert Global LLC boosted its stake in shares of Oceaneering International by 23.1% in the 3rd quarter. Algert Global LLC now owns 100,013 shares of the oil and gas company’s stock valued at $2,487,000 after purchasing an additional 18,760 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Oceaneering International by 51.8% in the 3rd quarter. Stifel Financial Corp now owns 68,943 shares of the oil and gas company’s stock valued at $1,715,000 after purchasing an additional 23,512 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Oceaneering International by 32.3% in the 3rd quarter. Fisher Asset Management LLC now owns 132,363 shares of the oil and gas company’s stock valued at $3,292,000 after purchasing an additional 32,297 shares during the last quarter. Barclays PLC boosted its stake in shares of Oceaneering International by 334.5% in the 3rd quarter. Barclays PLC now owns 180,470 shares of the oil and gas company’s stock valued at $4,489,000 after purchasing an additional 138,931 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Oceaneering International by 1.3% in the 3rd quarter. FMR LLC now owns 2,895,960 shares of the oil and gas company’s stock valued at $72,023,000 after purchasing an additional 36,593 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Oceaneering International Stock Performance

Shares of OII stock opened at $24.67 on Friday. 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 company has a market capitalization of $2.49 billion, a P/E ratio of 18.69 and a beta of 2.38. The company’s 50 day moving average price is $26.35 and its two-hundred day moving average price is $26.27. Oceaneering International, Inc. has a 52 week low of $19.68 and a 52 week high of $30.98.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Pickering Energy Partners downgraded shares of Oceaneering International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 14th. Benchmark reiterated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a research report on Friday, October 25th. TD Cowen increased their price target 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. Barclays upgraded shares of Oceaneering International from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $22.00 to $26.00 in a research report on Wednesday, December 18th. Finally, Citigroup downgraded shares of 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.25.

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.