Oceaneering International (NYSE:OII) Releases Earnings Results, Misses Estimates By $0.16 EPS

Oceaneering International (NYSE:OII) issued its earnings results on Wednesday. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16), reports. Oceaneering International had a return on equity of 15.10% and a net margin of 4.36%. The company had revenue of $599.09 million for the quarter, compared to the consensus estimate of $613.58 million.

Oceaneering International Price Performance

OII stock opened at $24.55 on Friday. Oceaneering International has a 52 week low of $14.99 and a 52 week high of $27.46. The company has a quick ratio of 1.50, a current ratio of 1.78 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $22.49 and a two-hundred day simple moving average of $21.79. The firm has a market capitalization of $2.49 billion, a P/E ratio of 23.16 and a beta of 2.49.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Benchmark reiterated a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research report on Thursday. Finally, Barclays lowered their price objective on shares of Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th.

Institutional Investors Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new position in Oceaneering International in the 3rd quarter worth about $30,757,000. Hennessy Advisors Inc. increased its stake in Oceaneering International by 541.1% in the 4th quarter. Hennessy Advisors Inc. now owns 982,200 shares of the oil and gas company’s stock worth $20,901,000 after buying an additional 829,000 shares during the period. Bank of New York Mellon Corp increased its stake in Oceaneering International by 79.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock worth $42,704,000 after buying an additional 734,518 shares during the period. Norges Bank purchased a new position in Oceaneering International in the 4th quarter worth about $15,161,000. Finally, FMR LLC increased its stake in Oceaneering International by 18.9% in the 3rd quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock worth $114,134,000 after buying an additional 705,534 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

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.