Oceaneering International (NYSE:OII) Issues Earnings Results

Oceaneering International (NYSE:OII) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09), FiscalAI reports. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%. The firm had revenue of $784.55 million during the quarter, compared to analyst estimates of $775.93 million. During the same quarter in the previous year, the business posted $0.55 EPS. Oceaneering International’s revenue for the quarter was up 5.6% compared to the same quarter last year.

Oceaneering International Stock Down 0.4%

OII stock opened at $43.91 on Thursday. The company has a fifty day simple moving average of $47.89 and a 200 day simple moving average of $42.99. Oceaneering International has a 1 year low of $22.13 and a 1 year high of $54.25. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.37 billion, a PE ratio of 12.62 and a beta of 1.25.

Insider Activity

In related news, SVP Earl Childress sold 12,701 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the completion of the transaction, the senior vice president directly owned 22,876 shares in the company, valued at $1,068,537.96. This represents a 35.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Roderick Larson sold 6,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $44.16, for a total value of $264,960.00. Following the transaction, the chief executive officer owned 391,279 shares in the company, valued at $17,278,880.64. This represents a 1.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,901 shares of company stock worth $1,542,864 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OII shares. Citigroup lifted their price target on shares of Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Barclays increased their price objective on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Wall Street Zen upgraded shares of Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Finally, Weiss Ratings downgraded shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

About Oceaneering International

Oceaneering International, Inc is a Houston-based global engineering and technology company that provides services, equipment and applied technologies for the energy, defense, aerospace and industrial markets. The company is best known for its subsea capabilities, including remotely operated vehicles, subsea engineering, inspection, maintenance, repair and installation services, and specialized products used in offshore oil and gas operations.

Oceaneering also develops advanced technologies for government and commercial customers.