Oceaneering International (NYSE:OII) Announces Quarterly Earnings Results

Oceaneering International (NYSE:OII) posted its quarterly earnings data on Wednesday. The oil and gas company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09), Briefing.com reports. Oceaneering International had a net margin of 4.36% and a return on equity of 14.82%. The business had revenue of $668.81 million during the quarter, compared to analysts’ expectations of $656.87 million. During the same period in the previous year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year.

Oceaneering International Stock Up 13.5 %

NYSE:OII traded up $3.43 during mid-day trading on Thursday, hitting $28.88. The stock had a trading volume of 1,953,900 shares, compared to its average volume of 837,746. The stock has a 50-day simple moving average of $23.42 and a two-hundred day simple moving average of $22.48. The company has a market capitalization of $2.93 billion, a PE ratio of 26.66 and a beta of 2.39. Oceaneering International has a twelve month low of $18.67 and a twelve month high of $29.17. The company has a current ratio of 1.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.76.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Oceaneering International from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Barclays reissued an “underweight” rating and issued a $21.00 price objective (down previously from $22.00) on shares of Oceaneering International in a research note on Tuesday, May 14th. Benchmark reissued a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research note on Thursday. Finally, Citigroup raised their target price on shares of Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd.

Oceaneering International Company Profile

Oceaneering International, Inc provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. It operates through Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies segments.