PNC Financial Services Group Inc. Sells 3,334 Shares of Oceaneering International, Inc. (NYSE:OII)

PNC Financial Services Group Inc. cut its position in shares of Oceaneering International, Inc. (NYSE:OII) by 20.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,856 shares of the oil and gas company’s stock after selling 3,334 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Oceaneering International were worth $274,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new position in shares of Oceaneering International during the fourth quarter valued at approximately $44,000. Pineridge Advisors LLC bought a new stake in shares of Oceaneering International during the 4th quarter worth approximately $44,000. O Shaughnessy Asset Management LLC purchased a new position in Oceaneering International during the 3rd quarter valued at $249,000. Russell Investments Group Ltd. grew its position in Oceaneering International by 14.4% in the 4th quarter. Russell Investments Group Ltd. now owns 15,553 shares of the oil and gas company’s stock valued at $331,000 after acquiring an additional 1,961 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new stake in Oceaneering International in the third quarter worth $419,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Stock Up 2.9 %

NYSE:OII opened at $23.66 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.76 and a quick ratio of 1.45. Oceaneering International, Inc. has a 1-year low of $18.03 and a 1-year high of $27.46. The company has a 50-day moving average of $22.81 and a 200 day moving average of $22.00. The firm has a market cap of $2.40 billion, a PE ratio of 22.32 and a beta of 2.43.

Oceaneering International (NYSE:OII) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.16). The business had revenue of $599.09 million during the quarter, compared to analysts’ expectations of $613.58 million. Oceaneering International had a return on equity of 14.82% and a net margin of 4.36%. As a group, research analysts anticipate that Oceaneering International, Inc. will post 1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays restated an “underweight” rating and issued a $21.00 price target (down from $22.00) on shares of Oceaneering International in a report on Tuesday, May 14th. StockNews.com lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Finally, Benchmark reiterated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Thursday, April 25th.

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.