Oceaneering International (NYSE:OII) Posts Earnings Results

by · The Markets Daily

Oceaneering International (NYSE:OII – Get Free Report) released its earnings results on Wednesday. The oil and gas company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09), FiscalAI reports. The firm had revenue of $784.55 million during the quarter, compared to analysts’ expectations of $775.93 million. Oceaneering International had a net margin of 11.37% and a return on equity of 17.27%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS.

Oceaneering International Stock Up 1.9%

Shares of OII opened at $37.30 on Friday. Oceaneering International has a 52-week low of $22.13 and a 52-week high of $54.25. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $47.59 and a two-hundred day simple moving average of $43.00. The company has a market capitalization of $3.71 billion, a PE ratio of 10.79 and a beta of 1.25.

Insider Activity

In other news, 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 transaction of $264,960.00. Following the transaction, the chief executive officer owned 391,279 shares of the company’s stock, valued at approximately $17,278,880.64. The trade was a 1.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Murphy, Jr. sold 10,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,333,466.92. This represents a 12.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 32,901 shares of company stock worth $1,542,864. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OII. Citigroup boosted their price target on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Weiss Ratings cut shares of Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Zacks Research raised shares of Oceaneering International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Barclays upped their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.00.

View Our Latest Analysis on OII

About Oceaneering International

(Get Free Report)

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.

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