Oceaneering International (NYSE:OII) Releases Earnings Results

Oceaneering International (NYSE:OII) issued its quarterly earnings data 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 firm had revenue of $784.55 million for the quarter, compared to the consensus estimate of $775.93 million. Oceaneering International had a net margin of 12.19% and a return on equity of 18.40%.

Oceaneering International Trading Down 0.4%

Oceaneering International stock traded down $0.16 during mid-day trading on Wednesday, reaching $43.91. 831,623 shares of the company traded hands, compared to its average volume of 1,097,049. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.18 and a quick ratio of 1.90. Oceaneering International has a 52-week low of $22.13 and a 52-week high of $54.25. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 12.62 and a beta of 1.25. The firm’s 50 day moving average price is $48.03 and its 200 day moving average price is $42.93.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OII. Wall Street Zen raised Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings lowered Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. Barclays upped their price target 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 Oceaneering International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Citigroup increased their price objective on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Insider Transactions at Oceaneering International

In other news, SVP Earl Childress sold 12,701 shares of Oceaneering International stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $46.71, for a total transaction of $593,263.71. Following the sale, the senior vice president owned 22,876 shares of the company’s stock, valued at approximately $1,068,537.96. The trade was a 35.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director M. McEvoy sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.92, for a total transaction of $143,760.00. Following the transaction, the director owned 134,133 shares in the company, valued at $6,427,653.36. This represents a 2.19% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 32,901 shares of company stock worth $1,542,864. 1.30% of the stock is owned by corporate insiders.

Oceaneering International Company Profile

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.