Oceaneering International (NYSE:OII) Announces Earnings Results, Misses Estimates By $0.09 EPS

Oceaneering International (NYSE:OII) posted its quarterly earnings data on Wednesday. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09), FiscalAI reports. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%. The company had revenue of $784.55 million for the quarter, compared to analyst estimates of $775.93 million.

Oceaneering International Stock Down 0.4%

Shares of NYSE:OII traded down $0.16 during midday trading on Wednesday, hitting $43.91. 831,623 shares of the stock were exchanged, compared to its average volume of 1,097,049. 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. The business’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 capitalization of $4.37 billion, a PE ratio of 12.62 and a beta of 1.25.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Oceaneering International news, CEO Roderick Larson sold 6,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $44.16, for a total value of $264,960.00. Following the transaction, the chief executive officer owned 391,279 shares in the company, valued at $17,278,880.64. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul Murphy, Jr. sold 10,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $48.37, for a total value of $483,700.00. Following the completion of the transaction, the director owned 68,916 shares in the company, valued at $3,333,466.92. This trade represents a 12.67% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 32,901 shares of company stock valued at $1,542,864. 1.30% of the stock is currently owned by company 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.