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Stephen Mandel’s Lone Pine Capital Boosted Its Stake in $OII

Stephen Mandel’s Lone Pine Capital LLC filed on October 3rd for their expansion in Oceaneering International, Inc. (OII). The firm now owns more than 6 million shares of OII, corresponding to a 5.6% stake. According to Lone Pine Capital’s last 13F, the firm previously had a small position of 484 thousand shares in OII. In the third quarter, OII had a really choppy path. Lone Pine Capital might have made continuous purchases over a long period since the stock’s average daily volume was less than 1 million shares. OII tumbled further in late September and is now trading at $34.15, near its 2011’low. Outsiders can choose to follow Lone Pine Capital at this point.

LONE PINE CAPITAL

In the second quarter, OII was in seventeen hedge funds’ portfolios. Ken Fisher’s Fisher Asset Management had 2.55 million shares, up 97% from Q1. Steven Richman’s East Side Capital (Rr Partners) also had a large position, with a 106% increase to 2.22 million shares. Jim Simons’ Renaissance Technologies had 708 thousand shares, after a 281% increase. The three hedge funds respectively owned 2.36%, 2.06% and 0.65% stake of OII.

Lone Pine Capital LLC is owned by Stephen Mandel, who has $17 Billion assets under management. He’s a “bottom-up” investor with great stock picking skills. He returned about 23% during the past 11 years, beating the S&P 500 index by more than 20 percentage points per year. According to its 13F in the second quarter, the firm mainly invests in Technology, Services, and some other sectors.

Oceaneering International, Inc. is an Oil & Gas company which focuses on deepwater applications and provides engineered products and services to the offshore oil and gas industry. The company had several segments, including Remotely Operated Vehicles segment, Subsea Projects segment, Inspection segment, and Advanced Technologies segment. It primarily operates in west Africa, Norway, the United Kingdom, Asia, Australia, Brazil, and the United States.

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