Oceaneering International (NYSE:OII) Issues Earnings Results

Oceaneering International (NYSE:OII - Get Free Report) posted its quarterly earnings results on Wednesday. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.07, Zacks reports. Oceaneering International had a return on equity of 22.09% and a net margin of 7.31%. The business had revenue of $698.16 million during the quarter, compared to analyst estimates of $676.81 million. During the same period in the prior year, the business earned $0.28 earnings per share. The business's revenue was up 4.5% compared to the same quarter last year.

Oceaneering International Trading Down 5.2%

OII stock traded down $1.25 during midday trading on Friday, hitting $22.71. The stock had a trading volume of 961,216 shares, compared to its average volume of 860,945. The firm has a market cap of $2.28 billion, a PE ratio of 11.47 and a beta of 1.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.00 and a quick ratio of 1.58. Oceaneering International has a 12-month low of $15.46 and a 12-month high of $30.98. The company's 50-day moving average price is $20.71 and its 200 day moving average price is $21.26.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OII shares. Barclays reduced their price objective on Oceaneering International from $22.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Pickering Energy Partners upgraded Oceaneering International from an "underperform" rating to a "neutral" rating in a research note on Wednesday, April 2nd. Five 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, Oceaneering International presently has an average rating of "Hold" and a consensus price target of $28.00.

Institutional Trading of Oceaneering International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio purchased a new stake in Oceaneering International in the 1st quarter worth approximately $168,000. Empowered Funds LLC grew its stake in shares of Oceaneering International by 1.9% during the 1st 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 period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Oceaneering International by 4.6% during the 1st 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 period. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.