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

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

Oceaneering International Stock Performance

Shares of OII stock traded up $0.82 during mid-day trading on Wednesday, hitting $33.18. The stock had a trading volume of 2,025,385 shares, compared to its average volume of 1,142,409. The firm has a market cap of $3.31 billion, a PE ratio of 14.49 and a beta of 1.26. The company’s 50-day simple moving average is $27.75 and its 200-day simple moving average is $25.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.97 and a quick ratio of 1.68. Oceaneering International has a fifty-two week low of $15.46 and a fifty-two week high of $34.56.

Insider Buying and Selling

In other Oceaneering International news, SVP Jennifer Fremont Simons sold 29,155 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $26.35, for a total transaction of $768,234.25. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oceaneering International

A number of large investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Oceaneering International during the 3rd quarter valued at approximately $28,000. Quarry LP purchased a new position in shares of Oceaneering International in the third quarter valued at $30,000. EverSource Wealth Advisors LLC raised its stake in shares of Oceaneering International by 335.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after buying an additional 1,111 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Oceaneering International by 33.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,995 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 747 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Oceaneering International during the 4th quarter valued at about $80,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OII shares. TD Cowen lifted their price target on shares of Oceaneering International from $25.00 to $27.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Wall Street Zen lowered 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 note on Tuesday, November 4th. Barclays upped their target price on shares of Oceaneering International from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Oceaneering International in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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.