Oceaneering International (NYSE:OII) Announces Quarterly Earnings Results

Oceaneering International (NYSE:OII) issued its earnings results on Wednesday. The oil and gas company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.16), reports. Oceaneering International had a return on equity of 14.82% and a net margin of 4.36%. The firm had revenue of $599.09 million during the quarter, compared to analyst estimates of $613.58 million.

Oceaneering International Stock Performance

Shares of NYSE OII traded up $0.35 during trading hours on Friday, hitting $24.90. 1,100,607 shares of the company’s stock were exchanged, compared to its average volume of 913,364. The company’s 50-day moving average price is $22.54 and its 200-day moving average price is $21.80. Oceaneering International has a 1-year low of $14.99 and a 1-year high of $27.46. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 23.49 and a beta of 2.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.76 and a quick ratio of 1.50.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com lowered Oceaneering International from a “buy” rating to a “hold” rating in a research report on Friday. Barclays lowered their price objective on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Finally, Benchmark reissued a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a report on Thursday.

Hedge Funds Weigh In On Oceaneering International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management bought a new stake in shares of Oceaneering International in the fourth quarter valued at about $44,000. Pineridge Advisors LLC bought a new stake in shares of Oceaneering International in the fourth quarter valued at about $44,000. Exchange Traded Concepts LLC bought a new stake in shares of Oceaneering International in the third quarter valued at about $93,000. Meridian Management Co. bought a new stake in shares of Oceaneering International in the third quarter valued at about $206,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in Oceaneering International in the third quarter valued at about $206,000. Institutional investors own 93.93% 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.