State Street Discloses Passive Stake in Oceaneering International
Ticker: OII · Form: SC 13G · Filed: Jan 24, 2024 · CIK: 73756
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**State Street just revealed a big, passive stake in Oceaneering International, signaling institutional confidence.**
AI Summary
State Street Corporation, a major financial institution, has filed an initial SC 13G indicating its ownership of Oceaneering International Inc.'s common stock as of December 31, 2023. This filing, made on January 24, 2024, signals that State Street holds a significant, passive stake in Oceaneering, an oil and gas field services company. For investors, this matters because it shows a large institutional investor has confidence in Oceaneering, potentially signaling stability or future growth, but without any intent to influence management.
Why It Matters
This filing reveals that a major institutional investor, State Street Corporation, holds a significant, passive stake in Oceaneering International, which can be seen as a vote of confidence in the company's long-term prospects.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces risk by providing stability rather than signaling immediate volatility or conflict.
Analyst Insight
An investor might view this as a positive signal of institutional confidence in Oceaneering International, but should conduct further due diligence on Oceaneering's financials and market position, as this filing doesn't disclose the exact size of State Street's stake or their future intentions beyond passive ownership.
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Oceaneering International Inc. (company) — the subject company whose common stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 24, 2024 (date) — the filing date of the SC 13G
FAQ
Who filed this SC 13G statement?
The SC 13G statement was filed by State Street Corporation, identified as the 'Reporting Person' with IRS Identification No. 04-2456637.
What company's stock is the subject of this filing?
The subject company is Oceaneering International Inc., whose common stock is being reported. Its CUSIP number is 675232102.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
What type of filing is this, and under which rule was it filed?
This is an initial SC 13G filing, designated under Rule 13D-1 (B) of the Securities Exchange Act of 1934.
What is the business address of Oceaneering International Inc.?
Oceaneering International Inc.'s business address is 5875 North Sam Houston Parkway West, Suite 400, Houston, TX 77086.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 24, 2024 regarding OCEANEERING INTERNATIONAL INC (OII).