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

Oceaneering International (NYSE:OII) issued its quarterly earnings results on Wednesday. The oil and gas company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.08), Briefing.com reports. The business 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 firm posted $0.38 EPS.

Oceaneering International Stock Up 3.3 %

Shares of Oceaneering International stock traded up $0.81 during trading on Friday, hitting $25.44. 1,305,387 shares of the stock traded hands, compared to its average volume of 823,174. The stock has a market cap of $2.58 billion, a P/E ratio of 21.02 and a beta of 2.35. The company has a fifty day moving average price of $25.31 and a two-hundred day moving average price of $24.52. Oceaneering International has a twelve month low of $18.67 and a twelve month high of $30.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.42 and a current ratio of 1.72.

Insider Buying and Selling

In other Oceaneering International news, SVP Earl Childress sold 10,000 shares of Oceaneering International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the completion of the sale, the senior vice president now directly owns 57,351 shares in the company, valued at $1,473,920.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director M Kevin Mcevoy sold 9,675 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total value of $252,711.00. Following the completion of the sale, the director now directly owns 141,837 shares in the company, valued at approximately $3,704,782.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Earl Childress sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $25.70, for a total value of $257,000.00. Following the transaction, the senior vice president now owns 57,351 shares in the company, valued at approximately $1,473,920.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,975 shares of company stock worth $585,413. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays lifted their target price on Oceaneering International from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Benchmark reaffirmed a “buy” rating and set a $34.00 price objective on shares of Oceaneering International in a research report on Friday. Finally, Citigroup increased their target price on shares of Oceaneering International from $25.00 to $28.00 and gave the stock a “buy” rating in a research 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.