Is Oceaneering International (OII) A Good Stock To Buy?

As industrywide interest jumped, specific money managers were breaking ground themselves. Sheffield Asset Management, managed by Craig C. Albert, initiated the most valuable position in Oceaneering International (NYSE:OII). Sheffield Asset Management had $5.6 million invested in the company at the end of the quarter. Kurt Billick’s Bocage Capital also made a $4.8 million investment in the stock during the quarter. The other funds with new positions in the stock are GLG Partners, Kenneth Tropin’s Graham Capital Management, and Anand Parekh’s Alyeska Investment Group.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Oceaneering International (NYSE:OII) but similarly valued. We will take a look at Vedanta Ltd (ADR) (NYSE:VEDL), Erie Indemnity Company (NASDAQ:ERIE), Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM), and Bemis Company, Inc. (NYSE:BMS). This group of stocks’ market caps matches Oceaneering International (NYSE:OII)’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
VEDL 8 9625 5
ERIE 10 52490 2
SQM 9 54299 -5
BMS 25 198698 1

As you can see, these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $79 million. That figure was $183 million in Oceaneering International (NYSE:OII)’s case. Bemis Company, Inc. (NYSE:BMS) is the most popular stock in this table. On the other hand, Vedanta Ltd (ADR) (NYSE:VEDL) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks, Oceaneering International (NYSE:OII) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.