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

Oceaneering International (NYSE:OII) issued its earnings results on Wednesday. The oil and gas company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01, FiscalAI reports. The company had revenue of $668.57 million during the quarter, compared to analysts’ expectations of $678.16 million. Oceaneering International had a return on equity of 22.94% and a net margin of 8.21%.

Oceaneering International Stock Up 2.5%

Shares of NYSE OII traded up $0.82 during mid-day trading on Wednesday, hitting $33.18. 2,022,652 shares of the stock traded hands, compared to its average volume of 1,141,529. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 14.49 and a beta of 1.26. The stock has a fifty day moving average price of $27.75 and a 200-day moving average price of $25.22. Oceaneering International has a 52 week low of $15.46 and a 52 week high of $34.56. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.68 and a current ratio of 1.97.

Insider Buying and Selling

In other news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $26.35, for a total transaction of $768,234.25. Following the sale, the senior vice president 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in shares of Oceaneering International during the third quarter valued at approximately $28,000. Quarry LP bought a new position in Oceaneering International during the 3rd quarter valued at approximately $30,000. EverSource Wealth Advisors LLC raised its stake in Oceaneering International by 335.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 1,111 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Oceaneering International by 33.2% during the second quarter. Smartleaf Asset Management LLC now owns 2,995 shares of the oil and gas company’s stock valued at $62,000 after buying an additional 747 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Oceaneering International in the fourth quarter worth $80,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

About Oceaneering International

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.