Oceaneering International (NYSE:OII) Announces Earnings Results

Oceaneering International (NYSE:OII - Get Free Report) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.07, Zacks reports. The firm had revenue of $698.16 million for the quarter, compared to the consensus estimate of $676.81 million. Oceaneering International had a net margin of 7.31% and a return on equity of 22.94%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share.

Oceaneering International Price Performance

Shares of NYSE OII traded down $1.25 during mid-day trading on Friday, reaching $22.71. The company's stock had a trading volume of 961,216 shares, compared to its average volume of 890,027. The stock has a 50-day moving average of $20.65 and a two-hundred day moving average of $21.34. The stock has a market capitalization of $2.28 billion, a P/E ratio of 11.47 and a beta of 1.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.58 and a current ratio of 1.89. Oceaneering International has a 1-year low of $15.46 and a 1-year high of $30.98.

Institutional Investors Weigh In On Oceaneering International

A number of hedge funds have recently modified their holdings of OII. Strs Ohio acquired a new stake in shares of Oceaneering International in the first quarter valued at about $168,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Oceaneering International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company's stock valued at $1,312,000 after buying an additional 2,633 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Oceaneering International by 1.9% in the first quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company's stock valued at $2,634,000 after buying an additional 2,310 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OII has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Barclays decreased their price objective on shares of Oceaneering International from $22.00 to $21.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Finally, Pickering Energy Partners raised shares of Oceaneering International from an "underperform" rating to a "neutral" rating in a report on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.00.

About Oceaneering International

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.