Zacks Research Has Positive Forecast for OII FY2024 Earnings

Oceaneering International, Inc. (NYSE:OII) – Equities research analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of Oceaneering International in a report issued on Thursday, November 7th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will earn $1.25 per share for the year, up from their prior forecast 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.

A number of other brokerages also recently weighed in on OII. Benchmark reiterated a “buy” rating and issued a $34.00 price target on shares of Oceaneering International in a report on Friday, October 25th. Barclays dropped their target price on shares of Oceaneering International from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, October 31st.

Oceaneering International Price Performance

Shares of OII stock opened at $28.30 on Monday. The firm has a fifty day moving average of $25.22 and a two-hundred day moving average of $24.77. The firm has a market cap of $2.86 billion, a P/E ratio of 21.44 and a beta of 2.35. 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 0.68, a current ratio of 1.76 and a quick ratio of 1.46.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OII. Wedge Capital Management L L P NC raised its position in Oceaneering International by 0.7% during the second quarter. Wedge Capital Management L L P NC now owns 66,685 shares of the oil and gas company’s stock valued at $1,578,000 after buying an additional 450 shares during the period. Arizona State Retirement System boosted its holdings in shares of Oceaneering International by 2.0% during the second quarter. Arizona State Retirement System now owns 28,222 shares of the oil and gas company’s stock worth $668,000 after purchasing an additional 540 shares during the period. Bleakley Financial Group LLC grew its position in Oceaneering International by 5.4% during the first quarter. Bleakley Financial Group LLC now owns 12,158 shares of the oil and gas company’s stock valued at $284,000 after purchasing an additional 628 shares in the last quarter. Shell Asset Management Co. increased its stake in Oceaneering International by 5.2% in the 1st quarter. Shell Asset Management Co. now owns 15,086 shares of the oil and gas company’s stock valued at $353,000 after buying an additional 749 shares during the period. Finally, Isthmus Partners LLC lifted its position in Oceaneering International by 0.9% in the 2nd quarter. Isthmus Partners LLC now owns 111,125 shares of the oil and gas company’s stock worth $27,000 after buying an additional 968 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

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.