Oceaneering International (NYSE:OII) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Key Points

• Oceaneering reported Q1 EPS of $0.30, missing consensus by $0.05, while revenue of $692.43 million beat estimates and rose 2.7% year‑over‑year.
• Shares traded up about 1.8% to $38.49 with a market cap of $3.84B and a P/E of 11, and analysts' consensus is an average rating of "Hold" with an average price target of $33.67 (several firms have raised targets into the low‑mid $30s).
• Insiders have sold 111,689 shares (~$4.2M) in the past 90 days, including large reductions by the SVP and COO, while institutional ownership stands around 93.93%.

Oceaneering International (NYSE:OII - Get Free Report) announced its quarterly earnings data on Wednesday. The oil and gas company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.05), FiscalAI reports. The business had revenue of $692.43 million for the quarter, compared to the consensus estimate of $671.35 million. Oceaneering International had a net margin of 12.71% and a return on equity of 21.58%. Oceaneering International's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 EPS.

Oceaneering International Trading Up 1.8%

Shares of NYSE:OII opened at $38.49 on Thursday. The company has a 50 day moving average of $35.64 and a 200-day moving average of $29.12. The firm has a market cap of $3.84 billion, a P/E ratio of 11.00 and a beta of 1.18. Oceaneering International has a twelve month low of $16.83 and a twelve month high of $39.49. The company has a current ratio of 1.99, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OII shares. Wall Street Zen cut Oceaneering International from a "buy" rating to a "hold" rating in a research report on Sunday, March 1st. Weiss Ratings upgraded Oceaneering International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Barclays upped their price objective on Oceaneering International from $23.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Monday, February 23rd. TD Cowen raised their target price on Oceaneering International from $28.00 to $34.00 and gave the company a "hold" rating in a research note on Tuesday, March 3rd. Finally, Citigroup raised their target price on Oceaneering International from $25.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Oceaneering International has an average rating of "Hold" and an average price target of $33.67.

Insider Buying and Selling at Oceaneering International

In other Oceaneering International news, SVP Earl Childress sold 22,518 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $842,398.38. Following the completion of the transaction, the senior vice president directly owned 35,577 shares of the company's stock, valued at approximately $1,330,935.57. This trade represents a 38.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Benjamin Laura sold 33,176 shares of Oceaneering International stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $37.51, for a total value of $1,244,431.76. Following the transaction, the chief operating officer owned 45,911 shares in the company, valued at approximately $1,722,121.61. This trade represents a 41.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 111,689 shares of company stock valued at $4,204,360. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC boosted its position in shares of Oceaneering International by 20.1% during the 4th quarter. Corient Private Wealth LLC now owns 12,440 shares of the oil and gas company's stock valued at $299,000 after purchasing an additional 2,085 shares in the last quarter. Lido Advisors LLC lifted its stake in Oceaneering International by 2.8% during the fourth quarter. Lido Advisors LLC now owns 12,142 shares of the oil and gas company's stock valued at $299,000 after purchasing an additional 335 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Oceaneering International by 432.1% during the second quarter. Tower Research Capital LLC TRC now owns 13,206 shares of the oil and gas company's stock worth $274,000 after buying an additional 10,724 shares in the last quarter. Blair William & Co. IL acquired a new position in Oceaneering International in the third quarter worth approximately $247,000. Finally, Tannin Capital LLC acquired a new position in Oceaneering International in the fourth quarter worth approximately $239,000. 93.93% of the stock is owned by institutional investors and hedge funds.

About Oceaneering International

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.