Oceaneering International (NYSE:OII) Announces Earnings Results, Beats Expectations By $0.01 EPS

Oceaneering International (NYSE:OII) issued its quarterly earnings data on Wednesday. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01, FiscalAI reports. The firm had revenue of $668.57 million during the quarter, compared to the consensus estimate of $678.16 million. Oceaneering International had a return on equity of 23.05% and a net margin of 12.71%.The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Oceaneering International Trading Up 9.5%

NYSE OII opened at $36.25 on Friday. Oceaneering International has a 12 month low of $15.46 and a 12 month high of $36.41. The stock has a 50-day simple moving average of $28.06 and a 200 day simple moving average of $25.35. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $3.62 billion, a PE ratio of 10.36 and a beta of 1.26.

Insider Activity

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $26.35, for a total transaction of $768,234.25. Following the completion of the transaction, the senior vice president directly owned 52,344 shares in the company, valued at approximately $1,379,264.40. The trade was a 35.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tannin Capital LLC bought a new stake in Oceaneering International during the 4th quarter worth approximately $239,000. Corient Private Wealth LLC acquired a new position in shares of Oceaneering International in the second quarter valued at approximately $211,000. Commerce Bank acquired a new position in shares of Oceaneering International in the fourth quarter valued at approximately $209,000. Cerity Partners LLC bought a new stake in shares of Oceaneering International during the second quarter worth $202,000. Finally, Strs Ohio acquired a new stake in shares of Oceaneering International during the first quarter worth $168,000. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Barclays increased their price target on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a report on Monday, December 29th. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, TD Cowen boosted their target price on Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Oceaneering International presently has a consensus rating of “Hold” and an average price target of $25.00.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.