Hennessy Advisors Inc. Purchases 184,300 Shares of Oceaneering International, Inc. (NYSE:OII)

Hennessy Advisors Inc. grew its position in shares of Oceaneering International, Inc. (NYSE:OII) by 18.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,166,500 shares of the oil and gas company’s stock after purchasing an additional 184,300 shares during the period. Oceaneering International comprises about 1.1% of Hennessy Advisors Inc.’s holdings, making the stock its 24th largest holding. Hennessy Advisors Inc. owned approximately 1.15% of Oceaneering International worth $27,296,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors L.P. lifted its stake in Oceaneering International by 2.0% during the third quarter. Natixis Advisors L.P. now owns 33,859 shares of the oil and gas company’s stock worth $871,000 after purchasing an additional 659 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Oceaneering International by 3.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,757 shares of the oil and gas company’s stock valued at $463,000 after acquiring an additional 824 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of 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. Neo Ivy Capital Management bought a new stake in shares of Oceaneering International in the 4th quarter valued at about $44,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Oceaneering International in the 4th quarter valued at about $44,000. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

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

Oceaneering International Trading Up 2.6 %

NYSE:OII traded up $0.60 during mid-day trading on Friday, reaching $23.59. 559,978 shares of the company’s stock traded hands, compared to its average volume of 826,224. Oceaneering International, Inc. has a 12-month low of $18.03 and a 12-month high of $27.46. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 21.69 and a beta of 2.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.76 and a quick ratio of 1.45. The company has a 50 day moving average price of $22.79 and a 200-day moving average price of $21.93.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16). Oceaneering International had a net margin of 4.36% and a return on equity of 14.82%. The business had revenue of $599.09 million for the quarter, compared to analysts’ expectations of $613.58 million. On average, sell-side analysts predict that Oceaneering International, Inc. will post 1.4 earnings per share for the current year.

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.