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

Oceaneering International (NYSE:OII) announced its earnings results on Wednesday. The oil and gas company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.08), Briefing.com reports. The firm had revenue of $679.81 million during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $0.38 EPS.

Oceaneering International Price Performance

NYSE OII opened at $25.44 on Friday. The business’s fifty day moving average is $25.28 and its 200 day moving average is $24.52. Oceaneering International has a fifty-two week low of $18.67 and a fifty-two week high of $30.45. The company has a market capitalization of $2.58 billion, a PE ratio of 21.02 and a beta of 2.35. 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 Activity

In other news, Director M Kevin Mcevoy sold 9,675 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total value of $252,711.00. Following the transaction, the director now directly owns 141,837 shares in the company, valued at $3,704,782.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Oceaneering International news, SVP Earl Childress sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $25.70, for a total transaction 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 through this link. Also, 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 sale, the director now directly owns 141,837 shares in the company, valued at $3,704,782.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,975 shares of company stock worth $585,413 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OII. Barclays upped their price target on Oceaneering International from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Citigroup lifted 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. Finally, Benchmark reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a report on Friday.

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.