Home Hedge Funds Should You Hold Oceaneering International (OII)?

Should You Hold Oceaneering International (OII)?


Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered a return of 11.02% net of fees (11.18% gross of fees), trailing the Russell 2000 Index’s 14.03% total return. Both security selection and allocation effects drove the underperformance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Aristotle Small Cap Equity Strategy featured stocks such as Oceaneering International, Inc. (NYSE:OII) in the fourth quarter 2023 investor letter. Headquartered in Houston, Texas, Oceaneering International, Inc. (NYSE:OII) is an engineered services and products, and robotic solutions provider to the offshore energy, defense, aerospace, manufacturing, and entertainment industries. On January 11, 2024, Oceaneering International, Inc. (NYSE:OII) stock closed at $19.17 per share. One-month return of Oceaneering International, Inc. (NYSE:OII) was -6.21%, and its shares gained 0.21% of their value over the last 52 weeks. Oceaneering International, Inc. (NYSE:OII) has a market capitalization of $1.931 billion.

Aristotle Small Cap Equity Strategy stated the following regarding Oceaneering International, Inc. (NYSE:OII) in its fourth quarter 2023 investor letter:

Oceaneering International, Inc. (NYSE:OII), a global technology company delivering engineered services, products and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries, declined during the period amid a pullback in energy prices and conservative management commentary around the company’s near-term outlook. We maintain a position, as we believe the company should continue to benefit from future increases in offshore activity along with continued growth within its industrial robotics business segment.”

Robotic arms aboard a ship, carrying out new offshore projects.

Oceaneering International, Inc. (NYSE:OII) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Oceaneering International, Inc. (NYSE:OII) at the end of third quarter which was 24 in the previous quarter.

We discussed Oceaneering International, Inc. (NYSE:OII) in another article and shared the list of robotics stocks billionaires are loading up on.. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.

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