Zacks Research Has Optimistic Outlook of OII FY2024 Earnings

Oceaneering International, Inc. (NYSE:OII) – Zacks Research upped their FY2024 earnings estimates for Oceaneering International in a research report issued to clients and investors on Thursday, November 7th. Zacks Research analyst N. Choudhury now expects that the oil and gas company will post earnings of $1.25 per share for the year, up from their prior estimate of $1.23. The consensus estimate for Oceaneering International’s current full-year earnings is $1.39 per share. Zacks Research also issued estimates for Oceaneering International’s Q4 2024 earnings at $0.47 EPS, Q4 2025 earnings at $0.45 EPS, FY2025 earnings at $1.60 EPS, Q1 2026 earnings at $0.26 EPS, Q2 2026 earnings at $0.31 EPS and Q3 2026 earnings at $0.35 EPS.

Oceaneering International (NYSE:OII) last released its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.08). The firm had revenue of $679.81 million during the quarter, compared to the consensus estimate of $693.69 million. Oceaneering International had a net margin of 5.22% and a return on equity of 15.11%. Oceaneering International’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share.

Other equities research analysts have also issued reports about the stock. Benchmark reissued a “buy” rating and set a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. Barclays cut their target price on Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Thursday, October 31st.

Oceaneering International Stock Up 2.5 %

OII stock opened at $28.60 on Monday. The firm has a 50-day moving average price of $25.15 and a 200-day moving average price of $24.75. Oceaneering International has a 12 month low of $18.67 and a 12 month high of $30.45. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $2.89 billion, a P/E ratio of 21.67 and a beta of 2.35.

Insider Transactions at Oceaneering International

In other news, Director Karen H. Beachy sold 3,300 shares of the business’s stock in a transaction 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 directly owns 28,229 shares in the company, valued at $647,573.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Karen H. Beachy sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total transaction of $75,702.00. Following the transaction, the director now directly owns 28,229 shares in the company, valued at $647,573.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Kevin Mcevoy sold 9,675 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $26.12, for a total transaction of $252,711.00. Following the completion of the sale, the director now directly owns 141,837 shares in the company, valued at approximately $3,704,782.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Oceaneering International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Congress Asset Management Co. bought a new stake in shares of Oceaneering International in the 3rd quarter worth approximately $38,819,000. Earnest Partners LLC increased its position in Oceaneering International by 21.0% during the second quarter. Earnest Partners LLC now owns 6,365,214 shares of the oil and gas company’s stock valued at $150,601,000 after acquiring an additional 1,105,263 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Oceaneering International by 46.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,253,175 shares of the oil and gas company’s stock worth $29,323,000 after purchasing an additional 398,209 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Oceaneering International by 101.6% during the 2nd quarter. Victory Capital Management Inc. now owns 550,077 shares of the oil and gas company’s stock worth $13,015,000 after acquiring an additional 277,247 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new stake in Oceaneering International in the third quarter worth about $6,106,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

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.