Oceaneering International (NYSE:OII) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

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

Oceaneering International Price Performance

OII traded up $0.80 during trading on Friday, hitting $25.43. The company’s stock had a trading volume of 1,305,312 shares, compared to its average volume of 823,174. The company has a current ratio of 1.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.73. Oceaneering International has a twelve month low of $18.67 and a twelve month high of $30.45. The business’s fifty day simple moving average is $25.31 and its 200 day simple moving average is $24.52. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 20.66 and a beta of 2.35.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OII. Citigroup raised their target price on Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Benchmark reaffirmed a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a report on Friday. Finally, Barclays raised their price objective on Oceaneering International from $21.00 to $24.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st.

Insider Buying and Selling at Oceaneering International

In other news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International 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 of the company’s stock, valued at $647,573.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Earl Childress sold 10,000 shares of Oceaneering International stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total value of $257,000.00. Following the sale, the senior vice president now directly owns 57,351 shares of the company’s stock, valued at $1,473,920.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen H. Beachy sold 3,300 shares of Oceaneering International 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 completion of the sale, the director now directly owns 28,229 shares in the company, valued at $647,573.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,975 shares of company stock valued at $585,413. 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.