Oceaneering International (NYSE:OII) Announces Quarterly Earnings Results

Oceaneering International (NYSE:OII) released its 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. The company had revenue of $784.55 million for the quarter, compared to analyst estimates of $775.93 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%.

Oceaneering International Price Performance

Shares of NYSE:OII traded down $0.16 during trading hours on Wednesday, hitting $43.91. 831,623 shares of the company’s stock traded hands, compared to its average volume of 1,097,049. The company’s fifty day simple moving average is $48.03 and its two-hundred day simple moving average is $42.93. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 12.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. Oceaneering International has a 52 week low of $22.13 and a 52 week high of $54.25.

Insiders Place Their Bets

In related news, Director Paul B. Murphy, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $48.37, for a total transaction of $483,700.00. Following the completion of the sale, the director directly owned 68,916 shares in the company, valued at approximately $3,333,466.92. This trade represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director M. McEvoy sold 3,000 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.92, for a total value of $143,760.00. Following the completion of the transaction, the director directly owned 134,133 shares in the company, valued at $6,427,653.36. This represents a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 32,901 shares of company stock worth $1,542,864. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

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