Oceaneering International (OII) Releases Earnings Results, Misses Expectations By $-0.09 EPS

Oceaneering International (OII) reported quarterly earnings results on Monday, Apr-25-2016. The company reported $0.26 earnings per share for the quarter, missing the analyst consensus estimate by $-0.09. Analysts had a consensus of $0.35. The company posted revenue of $608.30 million in the period, compared to analysts expectations of $641.83 million. The company’s revenue was down -22.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

Many Wall Street Analysts have commented on Oceaneering International. Oceaneering International was Upgraded by Goldman to ” Buy” on Mar 11, 2016. Shares were Reiterated by Cowen on Feb 12, 2016 to “Market Perform” and Lowered the Price Target to $ 25 from a previous price target of $40 .

Oceaneering International opened for trading at $33.25 and hit $35.33 on the upside on Friday, eventually ending the session at $35.15, with a gain of 5.94% or 1.97 points. The heightened volatility saw the trading volume jump to 17,98,556 shares. Company has a market cap of $3,439 M.

In a different news, on Mar 10, 2016, Stephen P Barrett (Sr. V.P., Subsea Products) purchased 2,000 shares at $29.33 per share price. According to the SEC, on Nov 12, 2015, John R Huff (director) sold 200,000 shares at $44.17 per share price. On Jun 5, 2015, Charles Davison (Sr. V.P., Subsea Products) sold 1,153 shares at $50.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Oceaneering International Inc. is an oilfield provider of engineered services and products to the offshore oil and gas industry with a focus on deep water applications. The Company’s business segments are contained within two businesses such as services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies). The Company’s four business segments within the Oil and Gas business includes Remotely Operated Vehicles (ROVs) Subsea Products Subsea Projects and Asset Integrity. The Company also provides remote asset management software services. The Company provides services and products such as remotely operated vehicles specialty subsea hardware engineering and project management subsea intervention services including manned diving and asset integrity and non-destructive testing services. The Company’s foreign operations are principally focused in the North Sea Africa Brazil Australia and Asia.

Oceaneering International

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