Oceaneering International (NYSE:OII) Posts Quarterly 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 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 company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS.

Oceaneering International Trading Up 3.2 %

NYSE OII traded up $0.80 during trading on Friday, hitting $25.43. 1,305,312 shares of the company’s stock traded hands, compared to its average volume of 823,174. The stock has a fifty day moving average of $25.31 and a two-hundred day moving average of $24.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.72 and a quick ratio of 1.42. Oceaneering International has a 12-month low of $18.67 and a 12-month high of $30.45. The firm has a market cap of $2.58 billion, a P/E ratio of 20.66 and a beta of 2.35.

Analyst Ratings Changes

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

Insider Buying and Selling at Oceaneering International

In other news, Director M Kevin Mcevoy sold 9,675 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director M Kevin Mcevoy sold 9,675 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Earl Childress sold 10,000 shares of the stock in a transaction dated 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 owns 57,351 shares of the company’s stock, valued at approximately $1,473,920.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,975 shares of company stock worth $585,413 over the last three months. 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.