Oceaneering International (NYSE:OII) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Oceaneering International (NYSE:OII - Get Free Report) released its earnings results on Wednesday. The oil and gas company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.08), Briefing.com reports. Oceaneering International had a net margin of 4.87% and a return on equity of 15.78%. The business had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. During the same period last year, the business posted $0.38 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis.

Oceaneering International Stock Performance

Oceaneering International stock traded up $0.81 during midday trading on Friday, hitting $25.44. The company's stock had a trading volume of 1,305,387 shares, compared to its average volume of 823,174. Oceaneering International has a 1-year low of $18.67 and a 1-year high of $30.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.72 and a quick ratio of 1.42. The company has a 50-day moving average price of $25.31 and a two-hundred day moving average price of $24.52. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 21.02 and a beta of 2.35.

Insiders Place Their Bets

In other Oceaneering International news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total value of $75,702.00. Following the completion of the sale, the director now owns 28,229 shares in the company, valued at $647,573.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director M Kevin Mcevoy sold 9,675 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $26.12, for a total value of $252,711.00. Following the completion of the transaction, the director now directly owns 141,837 shares in the company, valued at approximately $3,704,782.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen H. Beachy sold 3,300 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $22.94, for a total transaction of $75,702.00. Following the completion of the transaction, the director now owns 28,229 shares of the company's stock, valued at $647,573.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,975 shares of company stock worth $585,413 in the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Benchmark reissued a "buy" rating and issued a $34.00 price objective on shares of Oceaneering International in a research report on Friday. Barclays lifted their price objective on shares of Oceaneering International from $21.00 to $24.00 and gave the company an "underweight" rating in a research report on Wednesday, July 31st. Finally, Citigroup lifted their price objective on shares of Oceaneering International from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, July 3rd.

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.