Oceaneering International (NYSE:OII) Trading Up 6.1% After Earnings Beat

Oceaneering International, Inc. (NYSE:OII - Get Free Report) rose 6.1% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $24.21 and last traded at $23.80. Approximately 628,828 shares changed hands during trading, a decline of 29% from the average daily volume of 881,211 shares. The stock had previously closed at $22.43.

The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.07. 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 for the quarter, compared to analyst estimates of $676.81 million. During the same period last year, the company earned $0.28 EPS. The firm's revenue was up 4.5% on a year-over-year basis.

Wall Street Analysts Forecast Growth

OII has been the topic of several recent analyst reports. Wall Street Zen lowered Oceaneering International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Barclays reduced their target price on 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 upgraded Oceaneering International from an "underperform" rating to a "neutral" rating in a report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Oceaneering International presently has a consensus rating of "Hold" and an average price target of $28.00.

Institutional Trading of Oceaneering International

Institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas bought a new stake in shares of Oceaneering International in the fourth quarter valued at about $531,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Oceaneering International by 62.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 27,675 shares of the oil and gas company's stock valued at $604,000 after purchasing an additional 10,628 shares in the last quarter. Old West Investment Management LLC bought a new stake in shares of Oceaneering International in the fourth quarter valued at about $1,565,000. Principal Financial Group Inc. lifted its holdings in shares of Oceaneering International by 2.3% in the first quarter. Principal Financial Group Inc. now owns 539,234 shares of the oil and gas company's stock valued at $11,761,000 after purchasing an additional 12,085 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Oceaneering International in the first quarter valued at about $546,000. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Trading Down 5.2%

The company has a market capitalization of $2.28 billion, a P/E ratio of 11.47 and a beta of 1.48. The business has a fifty day moving average price of $20.71 and a 200 day moving average price of $21.30. The company has a quick ratio of 1.58, a current ratio of 2.00 and a debt-to-equity ratio of 0.57.

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.