Oceaneering International (NYSE:OII) Issues Quarterly Earnings Results

Oceaneering International (NYSE:OII) posted its quarterly earnings data on Wednesday. The oil and gas company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.46 by $0.17, FiscalAI reports. Oceaneering International had a return on equity of 18.35% and a net margin of 12.12%.

Oceaneering International Price Performance

OII traded up $0.35 during midday trading on Wednesday, reaching $45.00. 1,312,132 shares of the company’s stock were exchanged, compared to its average volume of 1,168,523. Oceaneering International has a 1-year low of $20.79 and a 1-year high of $45.91. The stock has a market capitalization of $4.49 billion, a PE ratio of 13.35 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.08 and a quick ratio of 1.79. The business’s 50-day moving average price is $39.19 and its 200 day moving average price is $35.57.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a research note on Friday, May 22nd. TD Cowen raised their price objective on shares of Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Barclays lifted their price objective on Oceaneering International from $32.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Citigroup increased their target price on Oceaneering International from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $38.33.

Insider Activity at Oceaneering International

In other news, CEO Roderick A. Larson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total transaction of $191,350.00. Following the completion of the transaction, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at $15,203,867.33. This trade represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oceaneering International

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Oceaneering International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock worth $1,312,000 after buying an additional 2,633 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Oceaneering International by 1.9% in the first quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock valued at $2,634,000 after acquiring an additional 2,310 shares in the last quarter. Strs Ohio acquired a new stake in shares of Oceaneering International during the first quarter valued at $168,000. Norges Bank acquired a new stake in shares of Oceaneering International during the second quarter valued at $1,485,000. Finally, Invesco Ltd. increased its position in Oceaneering International by 8.0% during the 2nd quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock worth $13,472,000 after purchasing an additional 48,382 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.