Principal Financial Group Inc. Purchases 7,037 Shares of Oceaneering International, Inc. (NYSE:OII)

Principal Financial Group Inc. grew its position in Oceaneering International, Inc. (NYSE:OII) by 1.4% during the third quarter, HoldingsChannel.com reports. The fund owned 510,880 shares of the oil and gas company’s stock after acquiring an additional 7,037 shares during the quarter. Principal Financial Group Inc.’s holdings in Oceaneering International were worth $12,706,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wedge Capital Management L L P NC increased its position in Oceaneering International by 0.7% in the second quarter. Wedge Capital Management L L P NC now owns 66,685 shares of the oil and gas company’s stock worth $1,578,000 after purchasing an additional 450 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Oceaneering International by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 28,222 shares of the oil and gas company’s stock worth $668,000 after buying an additional 540 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Oceaneering International by 5.4% in the 1st quarter. Bleakley Financial Group LLC now owns 12,158 shares of the oil and gas company’s stock valued at $284,000 after acquiring an additional 628 shares during the last quarter. Shell Asset Management Co. grew its position in Oceaneering International by 5.2% in the first quarter. Shell Asset Management Co. now owns 15,086 shares of the oil and gas company’s stock worth $353,000 after acquiring an additional 749 shares in the last quarter. Finally, Isthmus Partners LLC increased its stake in Oceaneering International by 0.9% during the second quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 968 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Oceaneering International Stock Performance

Shares of NYSE:OII opened at $26.81 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 20.31 and a beta of 2.35. Oceaneering International, Inc. has a 12 month low of $18.67 and a 12 month high of $30.45. The firm’s 50-day moving average is $25.40 and its 200 day moving average is $24.84.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08). Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. The business had revenue of $679.81 million for the quarter, compared to the consensus estimate of $693.69 million. During the same period in the prior year, the company posted $0.38 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts predict that Oceaneering International, Inc. will post 1.39 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research note on Friday, October 25th. Barclays decreased their price target on Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, October 31st.

Insider Buying and Selling at Oceaneering International

In other news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the sale, the director now owns 28,229 shares of the company’s stock, valued at approximately $647,573.26. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director M Kevin Mcevoy sold 9,675 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total value of $252,711.00. Following the completion of the transaction, the director now directly owns 141,837 shares in the company, valued at approximately $3,704,782.44. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

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.