Zacks Research Has Strong Estimate for OII FY2024 Earnings

Oceaneering International, Inc. (NYSE:OII) – Research analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Oceaneering International in a note issued to investors on Tuesday, December 3rd. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings per share of $1.26 for the year, up from their prior estimate of $1.25. 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 $0.48 EPS, Q4 2025 earnings at $0.49 EPS, FY2025 earnings at $1.63 EPS and Q2 2026 earnings at $0.30 EPS.

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

OII has been the subject of a number of other research reports. Benchmark reiterated a “buy” rating and issued a $34.00 target price on shares of Oceaneering International in a report on Friday, October 25th. Barclays reduced their price target on Oceaneering International from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Thursday, October 31st.

Oceaneering International Stock Down 1.3 %

Shares of OII opened at $28.37 on Thursday. The company has a market capitalization of $2.87 billion, a PE ratio of 21.76 and a beta of 2.39. The business’s 50 day moving average is $26.63 and its 200 day moving average is $25.39. The company has a current ratio of 1.76, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. Oceaneering International has a 12-month low of $18.67 and a 12-month high of $30.98.

Insider Activity at Oceaneering International

In related news, Director Karen H. Beachy sold 3,300 shares of Oceaneering International stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $22.94, for a total value of $75,702.00. Following the completion of the transaction, the director now directly owns 28,229 shares in the company, valued at approximately $647,573.26. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Oceaneering International

A number of institutional investors have recently added to or reduced their stakes in OII. Isthmus Partners LLC raised its position in shares of Oceaneering International by 0.9% during the 2nd quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 968 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Oceaneering International during the 2nd quarter worth approximately $38,000. Farther Finance Advisors LLC raised its position in shares of Oceaneering International by 3,594.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,958 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,905 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Oceaneering International during the 3rd quarter worth approximately $57,000. Finally, CWM LLC raised its position in shares of Oceaneering International by 351.9% during the 2nd quarter. CWM LLC now owns 2,612 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 2,034 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

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.