Zacks Research Has Positive Outlook for OII FY2024 Earnings

Oceaneering International, Inc. (NYSE:OII) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Oceaneering International in a report issued 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 forecast 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 announced its 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). The business had revenue of $679.81 million for 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%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS.

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

Oceaneering International Price Performance

Shares of OII opened at $27.09 on Thursday. Oceaneering International has a fifty-two week low of $18.67 and a fifty-two week high of $30.98. The firm’s 50-day simple moving average is $26.72 and its two-hundred day simple moving average is $25.41. The stock has a market cap of $2.74 billion, a PE ratio of 20.85 and a beta of 2.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.76.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wedge Capital Management L L P NC raised its holdings in Oceaneering International by 0.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 66,685 shares of the oil and gas company’s stock worth $1,578,000 after purchasing an additional 450 shares during the period. Arizona State Retirement System raised its stake in Oceaneering International by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 28,222 shares of the oil and gas company’s stock worth $668,000 after acquiring an additional 540 shares during the period. Captrust Financial Advisors lifted its holdings in Oceaneering International by 3.9% during the third quarter. Captrust Financial Advisors now owns 15,271 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 578 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Oceaneering International by 6.3% in the third quarter. HighTower Advisors LLC now owns 11,616 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 687 shares in the last quarter. Finally, 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 valued at $27,000 after purchasing an additional 968 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insiders Place Their Bets

In related news, Director Karen H. Beachy sold 3,300 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 28,229 shares in the company, valued at approximately $647,573.26. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.30% 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.