Oceaneering International (NYSE:OII) Announces Earnings Results

Oceaneering International (NYSE:OII) posted its earnings results on Wednesday. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.16), reports. The company had revenue of $599.09 million for the quarter, compared to analysts’ expectations of $613.58 million. Oceaneering International had a return on equity of 14.82% and a net margin of 4.36%.

Oceaneering International Price Performance

Shares of NYSE:OII traded up $0.35 during trading on Friday, reaching $24.90. 1,100,607 shares of the company’s stock traded hands, compared to its average volume of 913,364. The firm has a market cap of $2.52 billion, a PE ratio of 23.49 and a beta of 2.49. Oceaneering International has a fifty-two week low of $14.99 and a fifty-two week high of $27.46. The company has a 50-day simple moving average of $22.54 and a 200-day simple moving average of $21.80. The company has a quick ratio of 1.50, a current ratio of 1.76 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Oceaneering International by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 12,461,454 shares of the oil and gas company’s stock valued at $265,180,000 after buying an additional 246,067 shares in the last quarter. FMR LLC lifted its stake in Oceaneering International by 18.9% in the 3rd quarter. FMR LLC now owns 4,437,560 shares of the oil and gas company’s stock worth $114,134,000 after purchasing an additional 705,534 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Oceaneering International by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,662,198 shares of the oil and gas company’s stock worth $56,654,000 after purchasing an additional 34,181 shares in the last quarter. Franklin Resources Inc. lifted its stake in Oceaneering International by 1.2% in the 4th quarter. Franklin Resources Inc. now owns 1,696,601 shares of the oil and gas company’s stock worth $36,104,000 after purchasing an additional 19,966 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Oceaneering International by 79.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,660,361 shares of the oil and gas company’s stock worth $42,704,000 after purchasing an additional 734,518 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OII shares. StockNews.com lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Friday. Barclays cut their price target on Oceaneering International from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 29th. Finally, Benchmark restated a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a research report on Thursday.

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.