Oceaneering International (NYSE:OII) Issues Earnings Results, Misses Estimates By $0.08 EPS

Oceaneering International (NYSE:OII) released its quarterly earnings results on Wednesday. The oil and gas company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.08), Briefing.com reports. The firm had revenue of $679.81 million for the quarter, compared to analysts’ expectations of $693.69 million. Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS.

Oceaneering International Trading Up 3.8 %

Oceaneering International stock traded up $0.94 during midday trading on Friday, reaching $25.57. The stock had a trading volume of 592,072 shares, compared to its average volume of 819,728. The company has a quick ratio of 1.42, a current ratio of 1.72 and a debt-to-equity ratio of 0.73. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 20.66 and a beta of 2.35. Oceaneering International has a 52-week low of $18.67 and a 52-week high of $30.45. The company has a fifty day moving average of $25.31 and a 200 day moving average of $24.52.

Wall Street Analyst Weigh In

OII has been the subject of a number of recent research reports. Barclays raised their target price on shares of Oceaneering International from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Benchmark restated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a report on Friday. Finally, Citigroup upped their target price on shares of Oceaneering International from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd.

Insider Buying and Selling at Oceaneering International

In other news, Director Karen H. Beachy sold 3,300 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total value of $75,702.00. Following the sale, the director now directly owns 28,229 shares in the company, valued at approximately $647,573.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Earl Childress sold 10,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the completion of the sale, the senior vice president now directly owns 57,351 shares of the company’s stock, valued at approximately $1,473,920.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen H. Beachy sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the transaction, the director now directly owns 28,229 shares in the company, valued at $647,573.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,975 shares of company stock worth $585,413 over the last 90 days. Company insiders own 2.30% of the company’s stock.

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.