Oceaneering International (NYSE:OII) Shares Gap Up – What’s Next?

Shares of Oceaneering International, Inc. (NYSE:OII) gapped up before the market opened on Thursday . The stock had previously closed at $45.00, but opened at $47.22. Oceaneering International shares last traded at $50.3850, with a volume of 210,054 shares traded.

Key Oceaneering International News

Here are the key news stories impacting Oceaneering International this week:

• Positive Sentiment: Oceaneering reported Q2 revenue of $768.2 million, up 10% year over year and above estimates, while diluted EPS of $0.65 also beat expectations. Profitability improved as net income, gross profit, and operating profit all rose, and the company highlighted record EBITDA. Article Title
• Positive Sentiment: Management projected third-quarter 2026 consolidated revenue growth and EBITDA in the range of $115 million to $125 million, reinforcing expectations for continued momentum. Article Title
• Neutral Sentiment: Several follow-up articles highlighted the earnings call, record EBITDA, and “strong earnings momentum,” which may be supporting investor confidence but do not appear to add new fundamental information. Article Title
• Negative Sentiment: One post-earnings note argued that Oceaneering’s improved diversification may already be reflected in the stock, suggesting limited upside from here. Article Title

Wall Street Analyst Weigh In

A number of research firms have recently commented on OII. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays upped their price target on Oceaneering International from $32.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a report on Friday, May 22nd. TD Cowen raised their price objective on Oceaneering International from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, Citigroup boosted their target price on shares of Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.33.

Oceaneering International Stock Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.79 and a current ratio of 2.18. The business has a 50-day moving average price of $39.81 and a 200 day moving average price of $36.00. The stock has a market capitalization of $5.28 billion, a P/E ratio of 15.22 and a beta of 1.15.

Oceaneering International (NYSE:OII) last posted its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.05). The company had revenue of $692.43 million during the quarter, compared to analysts’ expectations of $671.35 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 EPS. As a group, sell-side analysts forecast that Oceaneering International, Inc. will post 1.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Roderick A. Larson sold 5,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $38.27, for a total value of $191,350.00. Following the sale, the chief executive officer directly owned 397,279 shares of the company’s stock, valued at approximately $15,203,867.33. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Oceaneering International

Several large investors have recently modified their holdings of OII. Morgan Stanley Institutional Investment Advisors LLC purchased a new stake in Oceaneering International during the 4th quarter valued at about $94,847,000. Reinhart Partners LLC. bought a new stake in Oceaneering International during the 2nd quarter valued at about $66,795,000. Balyasny Asset Management L.P. raised its holdings in Oceaneering International by 916.6% in the second quarter. Balyasny Asset Management L.P. now owns 1,361,917 shares of the oil and gas company’s stock worth $28,219,000 after buying an additional 1,227,950 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in Oceaneering International by 210.8% in the third quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock worth $12,190,000 after buying an additional 333,666 shares during the last quarter. Finally, Old West Investment Management LLC lifted its stake in shares of Oceaneering International by 128.2% in the fourth quarter. Old West Investment Management LLC now owns 543,271 shares of the oil and gas company’s stock worth $13,055,000 after buying an additional 305,168 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Oceaneering International Company Profile

Oceaneering International, Inc is a global provider of engineered services and products primarily to the offshore oil and gas industry, as well as to aerospace, defense, and commercial diving markets. The company specializes in remotely operated vehicles (ROVs), subsea intervention, and inspection services designed to support exploration, production and maintenance activities in challenging underwater environments. In addition to ROV operations, Oceaneering offers asset integrity solutions, specialized tooling, and intervention equipment for pipelines, risers, and flowlines.

Founded in 1964 and headquartered in Houston, Texas, Oceaneering has grown through both organic expansion and strategic acquisitions.