Oceaneering International (NYSE:OII) Announces Quarterly Earnings Results

Oceaneering International (NYSE:OII) released its earnings results on Wednesday. The oil and gas company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02), Zacks reports. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%.

Oceaneering International Stock Down 1.8 %

OII stock traded down $0.45 during trading on Wednesday, hitting $25.24. 1,082,320 shares of the company’s stock were exchanged, compared to its average volume of 689,875. The business has a 50-day moving average price of $25.83 and a two-hundred day moving average price of $26.09. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 19.12 and a beta of 2.38. Oceaneering International has a 52-week low of $19.68 and a 52-week high of $30.98. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays raised Oceaneering International from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $22.00 to $26.00 in a research report on Wednesday, December 18th. Benchmark reiterated a “buy” rating and issued a $34.00 price objective on shares of Oceaneering International in a research note on Friday, October 25th. TD Cowen lifted their price objective on Oceaneering International from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Citigroup cut Oceaneering International from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research note on Friday, January 10th. Finally, Pickering Energy Partners cut Oceaneering International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.25.

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.