Oceaneering International Bolsa (NYSE: OII)

Últimas noticias sobre Oceaneering International (NYSE:OII) Bolsa

Oceaneering International

Oceaneering International Inc is a global provider of engineered services and products robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries. Most of Oceaneering's products are produced for the offshore oil and gas market. It had a 2020 segment realignment to promote synergies and cost efficiency. The five segments are subsea robotics; manufactured products; offshore projects group; integrity management and digital solutions; and aerospace and defense technologies. Within the segments are two businesses - services and products provided primarily to the oil and gas industry. The firm is also involved in the offshore renewables and mobility solutions industries.

Oceaneering International, Inc. Common Stock

Oceaneering International Inc

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OCEANEERING INTERNATIONAL ORD

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Shares of oil and gas companies are trading lower following reports suggesting an impending deal will restart Libyan oil production and exports.

Oceaneering International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oii#NYSE">OII</a>) has secured multiple awards in the U.K. North Sea region. The company&#39;s UK-based subsidiary Oceaneering International Servicesannounced several contracts with multiple operators in the region. These contracts involve decommissioning, inspection, subsea infrastructure preparation and installation support services.
The work duration for these contracts is expected to be 65 days. The contracts also include options that may be exercised to extend their duration. The management and execution of the contracts will be carried out by Oceaneering&#39;s UK North Sea hub located in Aberdeen, Scotland. &nbsp;
OII stated that the operations associated with the contracts are slated to begin in August 2024, and will be conducted with the help of the company&#39;s Island Offshore multiservice vessel (MSV) Island Frontier. The company has prolonged the charter for the MSV Island Frontier until December 2025. Oceaneering had previously used the vessel for operations in West Africa and the Black Sea.
The company stated that the recent contracts highlight its expansion into a key market and underscore its strong relationship with major clients in the UK North Sea region. They also demonstrate OII&#39;s expertise and execution capabilities in the sector.
<h2>OII&#39;s Zacks Rank and Key Picks</h2>
Currently, OII carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy&nbsp;sector are&nbsp;VAALCO Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/egy#NYSE">EGY</a>), MPLX LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mplx#NYSE">MPLX</a>) and TechnipFMC plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fti#NYSE">FTI</a>), each carrying a Zacks Rank #2 (Buy) at present.
VAALCO Energy is an independent energy company involved in upstream business operationswith a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company&#39;s production outlook seems bright.
MPLX LP owns and operates a wide range of midstream assets. The partnership&#39;s midstream assets include oil and natural gas gathering systems and transportation pipelines for crude, natural gas and refined petroleum products. MPLX is least exposed to commodity price fluctuations as it generates stable fee-based revenues. Furthermore, it surpasses its industry peers in terms of distribution yield, reflecting its commitment to returning capital to its unitholders.
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company&#39;s&nbsp;total backlog witnessed a record high of $13.9 million in the second quarter of 2024, indicating a year-over-year increase of 4.51%. This growing backlog ensures strong revenue growth for FTI in the future.
<a href="https://www.zacks.com/stock/news/2329682/oceaneering-secures-multiple-contracts-in-the-uk-north-sea?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2329682">To read this article on Zacks.com click here.</a>

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Oceaneering Secures Multiple Contracts in the UK North Sea

<a href="https://www.oceaneering.com/oceaneering-awarded-multiple-north-sea-vessel-contracts/">https://www.oceaneering.com/oceaneering-awarded-multiple-north-sea-vessel-contracts/</a>
Oceaneering International, Inc. ("Oceaneering") announces that its UK subsidiary, Oceaneering International Services Limited, has secured multiple contracts for decommissioning, inspection, subsea preparation, and installation support services in the UK sector of the North Sea. The contracts were awarded by multiple operators in the region and, when combined, total an estimated 65 days with options to extend the contract durations.&nbsp;&nbsp;
These operations are expected to begin in August 2024 and will be supported utilizing the multiservice vessel (MSV) Island Frontier, which Oceaneering has previously operated in West Africa and the Black Sea. Oceaneering has extended its charter for the MSV Island Frontier until December 2025, securing vessel capacity to meet client needs.&nbsp;&nbsp;
These contracts will be managed and executed from Oceaneering's UK North Sea hub in Aberdeen, Scotland.&nbsp;&nbsp;

Contracts

Oceaneering Has Secured Multiple Contracts From Multiple Operators For Decommissioning, Inspection, Subsea Preparation, And Installation Support Services In The UK Sector Of The North Sea

On August 21, a recent SEC filing unveiled that M. Kevin McEvoy, Director at Oceaneering International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>) made an insider sell.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000073756/000007375624000138//Archives/edgar/data/73756/000007375624000138/0000073756-24-000138-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday showed that McEvoy sold 9,675 shares of Oceaneering International. The total transaction amounted to $252,711. 
The latest market snapshot at Thursday morning reveals Oceaneering International shares down by 0.0%, trading at $26.02.
<h3>All You Need to Know About Oceaneering International</h3>
Oceaneering International Inc is a global provider of engineered services and products robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries. Most of Oceaneering's products are produced for the offshore oil and gas market. It had a 2020 segment realignment to promote synergies and cost efficiency. The five segments are subsea robotics; manufactured products; offshore projects group; integrity management and digital solutions; and aerospace and defense technologies. Within the segments are two businesses - services and products provided primarily to the oil and gas industry. The firm is also involved in the offshore renewables and mobility solutions industries.
<h3>Oceaneering International: A Financial Overview</h3>
Positive Revenue Trend: Examining Oceaneering International's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 11.86% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Energy sector.
Key Profitability Indicators:
<ul>
<li>
Gross Margin: The company shows a low gross margin of 17.97%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
</li>
<li>
Earnings per Share (EPS): Oceaneering International's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.34.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.37.
Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 21.5 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: The P/S ratio of 1.04 is lower than the industry average, implying a discounted valuation for Oceaneering International's stock in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an impressive EV/EBITDA ratio of 9.61, Oceaneering International demonstrates exemplary market valuation, surpassing industry averages.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
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<h3>Delving Into the Significance of Insider Transactions</h3>
While insider transactions provide valuable information, they should be part of a broader analysis in making investment decisions.
Considering the legal perspective, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
<h3>Transaction Codes To Focus On</h3>
Digging into the details of stock transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their attention to those taking place in the open market, as outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000073756">Check Out The Full List Of Oceaneering International's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

M. Kevin McEvoy Executes Sell Order: Offloads $252K In Oceaneering International Stock

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Shares of oil and gas companies are trading lower. The sector might be moving amid overall market weakness due to economic slowdown concerns following recent US data, which could negatively impact demand.

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Shares of oil and gas stocks are trading lower despite Middle East tensions. Weak US economic data may be weighing on demand outlook.

Oceaneering's IMDS Secures Two-Year Contract To Design Maintenance Strategy For FPSO Vessel Offshore Brazil; Project To Optimize Performance And Enhance Reliability Managed By Rio de Janeiro Office

Ratings for Oceaneering International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Oceaneering International and provided 12-month price targets. The average target is $26.75, accompanied by a high estimate of $34.00 and a low estimate of $21.00. This current average reflects an increase of 4.9% from the previous average price target of $25.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1722456110_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Oceaneering International among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Anderson</td>
<td>Barclays</td>
<td>Raises</td>
<td>Underweight</td>
<td>$24.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$34.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Scott Gruber</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$28.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>David Anderson</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$21.00</td>
<td>$22.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Oceaneering International. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Oceaneering International compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Oceaneering International's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Oceaneering International's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/OII/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Oceaneering International analyst ratings.</a>
<h2>About Oceaneering International</h2>
Oceaneering International Inc is a global provider of engineered services and products robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries. Most of Oceaneering's products are produced for the offshore oil and gas market. It had a 2020 segment realignment to promote synergies and cost efficiency. The five segments are subsea robotics; manufactured products; offshore projects group; integrity management and digital solutions; and aerospace and defense technologies. Within the segments are two businesses - services and products provided primarily to the oil and gas industry. The firm is also involved in the offshore renewables and mobility solutions industries.
<h3>Oceaneering International's Financial Performance</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Oceaneering International displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 11.86%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Net Margin: Oceaneering International's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 5.23%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Oceaneering International's ROE stands out, surpassing industry averages. With an impressive ROE of 5.49%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Oceaneering International's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.54% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Oceaneering International's debt-to-equity ratio surpasses industry norms, standing at 1.37. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Analyst Ratings: What Are They?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Breaking Down Oceaneering International: 4 Analysts Share Their Views

Barclays analyst David Anderson maintains Oceaneering International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>) with a Underweight and raises the price target from $21 to $24.

Price Target

Barclays Maintains Underweight on Oceaneering International, Raises Price Target to $24

As of July 26, 2024, three stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Nabors Industries Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>)</h3>
<ul>
<li>On July 23, Nabors Industries posted better-than-expected quarterly sales. Anthony G. Petrello, Nabors Chairman, CEO and President, commented, &#8220;Our second quarter operating results were better than we expected. This performance was driven by growth and higher average daily margins in our International Drilling segment, as well as stronger performance in our Drilling Solutions and Rig Technologies segments.&#8221; The company's stock gained around 45% over the past month and has a <a href="https://www.benzinga.com/quote/NBR">52-week high of $141.47</a>.</li>
<li>RSI Value: 76.76&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>NBR Price Action: Shares of Nabors Industries gained 12.7% to close at $100.81 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">VAALCO Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGY#NYSE">EGY</a>)</h3>
<ul>
<li>VAALCO Energy will issue its second quarter earnings release on Tuesday, Aug. 6, after the closing bell. The company's stock gained around 13% over the past month and <a href="https://www.benzinga.com/quote/EGY">has a 52-week high </a>of $7.50.</li>
<li>RSI Value: 70.27</li>
<li>EGY Price Action: Shares of VAALCO Energy gained 2.9% to close at $7.20 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">Oceaneering International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>)</h3>
<ul>
<li>On July 24, Oceaneering International posted better-than-expected quarterly sales. Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, &#8220;Activity levels in our energy-related businesses, led by Subsea Robotics (SSR), increased and outperformed our expectations. Our adjusted EBITDA was in line with our guidance and consensus estimates.&#8221; The company's stock gained around 28% over the past month and has a <a href="https://www.benzinga.com/quote/OII">52-week high</a> of $29.17.</li>
<li>RSI Value: 75.67</li>
<li>OII Price Action: Shares of Oceaneering International gained 13.8% to close at $28.95 on Thursday.</li>
</ul>
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Edwards Lifesciences reported quarterly earnings of 70 cents per share which beat the analyst consensus estimate of 69 cents per share. The company reported quarterly sales of $1.632 billion which missed the analyst consensus estimate of $1.653 billion.
Edwards Lifesciences shares dipped 26.9% to $63.60 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
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<li>Predictive Oncology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POAI#NASDAQ">POAI</a>) shares jumped 85% to $1.96 after the company entered biomarker discovery market after successful retrospective ovarian cancer study yields compelling results.</li>
<li>Psyence Biomedical Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBM#NASDAQ">PBM</a>) rose 65.4% to $0.6424 after the company announced the export of nature-derived psilocybin to Australia and said a trial is projected to be initiated shortly following receipt of drug product by trial sites.</li>
<li>Salarius Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) jumped 60% to $3.4421.</li>
<li>Goosehead Insurance, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSHD#NASDAQ">GSHD</a>) rose 29.8% to $85.25 following upbeat second-quarter results.</li>
<li>Viking Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) shares gained 28.2% to $64.64 after the company reported better-than-expected second-quarter EPS results.</li>
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<li>CERo Therapeutics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERO#NASDAQ">CERO</a>) gained 25.4% to $0.2645 after gaining around 8% on Wednesday.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) rose 25.2% to $16.72. The company announced the successful completion of its first five commercial satellites.</li>
<li>Bally&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BALY#NYSE">BALY</a>) gained 24.2% to $16.80. Bally&#8217;s entered into merger agreement with affiliates of Standard General L.P.</li>
<li>Molina Healthcare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) climbed 18.3% to $341.39 following better-than-expected quarterly earnings.</li>
<li>The Shyft Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHYF#NASDAQ">SHYF</a>) gained 16.4% to $13.55 following upbeat earnings.</li>
<li>Carpenter Technology Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRS#NYSE">CRS</a>) climbed 16.3% to $141.59 after the company reported better-than-expected quarterly financial results.</li>
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<li>RPC, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RES#NYSE">RES</a>) gained 15.1% to $6.64 following upbeat earnings.</li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) jumped 13.7% to $831.97 after the company reported better-than-expected second-quarter financial results.</li>
<li>Pegasystems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGA#NASDAQ">PEGA</a>) rose 13.1% to $69.09 after the company reported better-than-expected second-quarter financial results.</li>
<li>Helmerich &amp; Payne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HP#NYSE">HP</a>) climbed 12.5% to $42.46 following third-quarter results.</li>
<li>BloomZ Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) gained 12.2% to $2.75 after dipping 43% on Wednesday. BloomZ recently priced its IPO at $4.30 per share.</li>
<li>Valmont Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMI#NYSE">VMI</a>) gained 11.1% to $300.96 following upbeat earnings.</li>
<li>Plexus Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLXS#NASDAQ">PLXS</a>) rose 10.5% to $128.36 following upbeat earnings.</li>
<li>Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) rose 10.1% to $53.92 following second-quarter results.</li>
<li>Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) gained 9.6% to $565.64 after the company reported better-than-expected second-quarter adjusted EPS and sales.</li>
<li>Mr. Cooper Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NYSE">COOP</a>) rose 9.5% to $94.86 following second-quarter results.</li>
<li>Oceaneering International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>) gained 9.2% to $27.79 following strong sales.</li>
<li>RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) surged 8% to $113.24 following a second-quarter earnings beat.</li>
<li>J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) gained 6.1% to $173.75.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>2U, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) shares dipped 60% to $1.65. 2U announced a strategic agreement with debtholders to eliminate half of debt and infuse $110 million in new capital.</li>
<li>EZFill Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EZFL#NASDAQ">EZFL</a>) tumbled 40.3% to $3.73.</li>
<li>Kindly MD, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KDLY#NASDAQ">KDLY</a>) fell 37.5% to $2.04 after the company submitted comment to the Department of Justice regarding cannabis rescheduling.</li>
<li>Cheetah Net Supply Chain Service Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTNT#NASDAQ">CTNT</a>) dipped 34% to $0.3185. Cheetah Net Supply Chain Service announced pricing of $1.49 million follow-on public offering.</li>
<li>MaxLinear, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MXL#NYSE">MXL</a>) shares fell 30.7% to $15.45 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Sol-Gel Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLGL#NASDAQ">SLGL</a>) dipped 30% to $0.4750. Sol-Gel announced the signing of six exclusive license agreements to commercialize TWYNEO&#xAE; and EPSOLAY&#xAE; in Europe and South Africa.</li>
<li>Regencell Bioscience Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGC#NASDAQ">RGC</a>) fell 29.7% to $9.49 after declining 10% on Wednesday.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) fell 27% to $0.1159.</li>
<li>Orion Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORN#NYSE">ORN</a>) declined 21.9% to $8.62 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Ostin Technology Group Co., Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OST#NASDAQ">OST</a>) shares declined 20.3% to $0.35 after gaining around 19% on Wednesday.</li>
<li>Ribbon Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBBN#NASDAQ">RBBN</a>) tumbled 19.2% to $3.1450 after the company reported worse-than-expected quarterly revenue.</li>
<li>Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) shares fell 16.6% to $11.40 following a second-quarter earnings miss.</li>
<li>Hoth Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOTH#NASDAQ">HOTH</a>) fell 15.1% to $0.9103. Hoth Therapeutics shares gained around 11% on Wednesday after the company signed an agreement with LTS Therapy Systems to develop and manufacture the HT-ALZ oral film prototype for Alzheimer&#8217;s disease.</li>
<li>Garrett Motion Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTX#NASDAQ">GTX</a>) declined 13.8% to $7.86 after the company reported worse-than-expected quarterly financial results and lowered its FY24 guidance.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) shares fell 13.4% to $0.0396 after jumping over 75% on Wednesday.</li>
<li>Kaiser Aluminum Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KALU#NASDAQ">KALU</a>) declined 13.3% to $79.76 after the company reported worse-than-expected quarterly financial results.</li>
<li>Hut 8 Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NYSE">HUT</a>) declined 12.8% to $15.71.</li>
<li>LKQ Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>) fell 12.1% to $39.10 after the company reported worse-than-expected quarterly adjusted EPS and sales. Additionally, the company lowered its FY24 adjusted EPS outlook.</li>
<li>STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) shares fell 12% to $34.81 after the company reported a second-quarter EPS miss and issued soft third-quarter guidance.</li>
<li>Teradyne, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) dipped 9.7% to $129.30 following soft third-quarter guidance.</li>
<li>West Pharmaceutical Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WST#NYSE">WST</a>) fell 9.5% to $292.91 after the company reported a quarterly earnings miss and cut its guidance.</li>
<li>FormFactor, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FORM#NASDAQ">FORM</a>) fell 8.2% to $52.26.</li>
<li>Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) tumbled 8.2% to $249.52 after Citigroup downgraded the stock from a Buy to a Neutral and lowered its price target from $415 to $300.</li>
<li>Robert Half Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHI#NYSE">RHI</a>) declined 7% to $60.32 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) fell 6.8% to $18.27 following H1 results.</li>
<li>QuantumScape Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QS#NYSE">QS</a>) shares fell 6.2% to $7.01 after the company reported worse-than-expected EPS results.</li>
<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) declined 4.1% to $204.82 after the company lowered FY24 EPS guidance.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39961297/this-lululemon-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-thursday">This Lululemon Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Thursday</a></li>
</ul>

Intraday Update

Movers

ASTS

ATPC

BALY

BLMZ

CERO

COOP

CTNT

FORM

GSHD

HOTH

INDV

JBHT

KALU

KDLY

LULU

PEGA

PLXS

POAI

RBBN

SHYF

SLGL

SLNA

SLRX

STLA

TIVC

TWOU

VKTX

XCUR

Why Edwards Lifesciences Shares Are Trading Lower? Here Are Other Stocks Moving In Thursday's Mid-Day Session

Benchmark analyst Kurt Hallead reiterates Oceaneering International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>) with a Buy and maintains $34 price target.

Reiteration

Benchmark Reiterates Buy on Oceaneering International, Maintains $34 Price Target

U.S. stocks were higher, with the Dow Jones index gaining more than 1% on Thursday.
Shares of International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) rose during Thursday's session following strong <a href="https://www.benzinga.com/news/24/07/39961144/why-ibm-stock-is-trading-higher-on-thursday">quarterly earnings</a>.
IBM reported quarterly earnings of $2.43 per share, which beat the analyst consensus estimate of $2.19. Quarterly sales clocked in at $15.8 billion, which beat the analyst consensus estimate of $15.616 billion.
IBM shares gained 6.4% to $195.75 on Thursday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Viking Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) shares surged 28.2% to $64.64 after the company reported better-than-expected second-quarter EPS results.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) jumped 25.2% to $16.72. The company announced the successful completion of its first five commercial satellites.</li>
<li>Bally&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BALY#NYSE">BALY</a>) shares rose 24.2% to $16.80. Bally&#8217;s entered into merger agreement with affiliates of Standard General L.P.</li>
<li>Molina Healthcare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOH#NYSE">MOH</a>) gained 18.3% to $341.39 following better-than-expected quarterly earnings.</li>
<li>Carpenter Technology Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRS#NYSE">CRS</a>) jumped 16.3% to $141.59 after the company reported better-than-expected quarterly financial results.</li>
<li>RPC, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RES#NYSE">RES</a>) rose 15.1% to $6.64 following upbeat earnings.</li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) rose 13.7% to $831.97 after the company reported better-than-expected second-quarter financial results.</li>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) jumped 13.6% to $19.05.</li>
<li>Pegasystems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGA#NASDAQ">PEGA</a>) gained 13.1% to $69.09 after the company reported better-than-expected second-quarter financial results.</li>
<li>Helmerich &amp; Payne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HP#NYSE">HP</a>) gained 12.5% to $42.46 following third-quarter results.</li>
<li>CBRE Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>) surged 11.7% to $109.87 after the company raised its 2024 guidance.</li>
<li>Valmont Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMI#NYSE">VMI</a>) climbed 11.1% to $300.96 following upbeat earnings.</li>
<li>Lazard, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAZ#NYSE">LAZ</a>) rose 11% to $48.08 following better-than-expected quarterly earnings.</li>
<li>Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) rose 10.7% to $571.01 after the company reported better-than-expected quarterly adjusted EPS and sales.</li>
<li>Plexus Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLXS#NASDAQ">PLXS</a>) gained 10.5% to $128.36 following upbeat earnings.</li>
<li>Transocean Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIG#NYSE">RIG</a>) surged 10.2% to $5.80.</li>
<li>Beam Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) rose 10.1% to $32.81.</li>
<li>Knight-Swift Transportation Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) gained 10.1% to $53.92 following second-quarter results.</li>
<li>Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) shares climbed 9.6% to $565.64 after the company reported better-than-expected second-quarter adjusted EPS and sales.</li>
<li>Mr. Cooper Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NYSE">COOP</a>) gained 9.5% to $94.86 following second-quarter results.</li>
<li>RPM International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RPM#NYSE">RPM</a>) climbed 9.2% to $121.14 after the company reported better-than-expected quarterly earnings.</li>
<li>Oceaneering International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>) rose 9.2% to $27.79 following strong sales.</li>
<li>Masco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>) gained 8.1% to $76.27 after the company reported better-than-expected second-quarter earnings.</li>
<li>Universal Health Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>) rose 8.1% to $201.00 after the company reported better-than-expected second-quarter earnings and increased FY 2024 guidance.</li>
<li>RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) climbed 8% to $113.24 following a second-quarter earnings beat.</li>
<li>Morningstar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MORN#NASDAQ">MORN</a>) rose 7.8% to $328.71. The company reported second-quarter financial results yesterday.</li>
<li>Nasdaq, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDAQ#NASDAQ">NDAQ</a>) gained 7.4% to $67.36 after the company reported better-than-expected second-quarter financial results.</li>
<li>MongoDB, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>) rose 7.4% to $262.60.</li>
<li>J.B. Hunt Transport Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) shares rose 6.1% to $173.75.</li>
<li>Unilever PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>) gained 5.9% to $59.90 following HI results.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/24/07/39961795/apple-to-rally-around-10-here-are-10-top-analyst-forecasts-for-thursday">Apple To Rally Around 10%? Here Are 10 Top Analyst Forecasts For Thursday</a></li>
</ul>

BEAM

CBRE

MORN

NDAQ

VSAT

IBM Posts Upbeat Earnings, Joins ServiceNow, Helmerich & Payne, RTX, Nasdaq And Other Big Stocks Moving Higher On Thursday

Oceaneering International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>) reported quarterly earnings of $0.28 per share which missed the analyst consensus estimate of $0.30 by 6.67 percent. The company reported quarterly sales of $668.808 million which beat the analyst consensus estimate of $653.475 million by 2.35 percent. This is a 11.86 percent increase over sales of $597.910 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Oceaneering International Q2 2024 Adj EPS $0.28 Misses $0.30 Estimate, Sales $668.808M Beat $653.475M Estimate

4 analysts have expressed a variety of opinions on Oceaneering International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Oceaneering International and provided 12-month price targets. The average target is $29.25, accompanied by a high estimate of $34.00 and a low estimate of $21.00. This upward trend is evident, with the current average reflecting a 1.74% increase from the previous average price target of $28.75.
<img src="https://www.benzinga.com/files/images/story/2024/1720029722_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The standing of Oceaneering International among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Scott Gruber</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$28.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>David Anderson</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$21.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$34.00</td>
<td>$34.00</td>
</tr>
<tr>
<td>Kurt Hallead</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$34.00</td>
<td>$34.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Oceaneering International. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Oceaneering International compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Oceaneering International's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Oceaneering International's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/OII/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Oceaneering International analyst ratings.</a>
<h2>Delving into Oceaneering International's Background</h2>
Oceaneering International Inc is a global provider of engineered services and products robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries. Most of Oceaneering's products are produced for the offshore oil and gas market. It had a 2020 segment realignment to promote synergies and cost efficiency. The five segments are subsea robotics; manufactured products; offshore projects group; integrity management and digital solutions; and aerospace and defense technologies. Within the segments are two businesses - services and products provided primarily to the oil and gas industry. The firm is also involved in the offshore renewables and mobility solutions industries.
<h3>Oceaneering International's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Oceaneering International's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 11.57%. This signifies a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Net Margin: Oceaneering International's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 2.53%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 2.42%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.68%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: With a high debt-to-equity ratio of 1.46, Oceaneering International faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Significance of Analyst Ratings Explained</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Oceaneering International: Insights From 4 Analyst Reviews

Citigroup analyst Scott Gruber maintains Oceaneering International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OII#NYSE">OII</a>) with a Buy and raises the price target from $25 to $28.

Citigroup Maintains Buy on Oceaneering International, Raises Price Target to $28

Oceaneering Secures Multiple Contractual Agreements For Vessel Services With Global Energy Companies, Covering Operations In The Gulf Of Mexico

Oceaneering is contracted to supply an electro-hydraulic, steel tube dynamic umbilical totaling approximately 27 kilometers (17 miles) in length for a project in the Gulf of Mexico.
Manufacturing is scheduled for the Panama City, Florida facility, to commence in 2025 with final delivery expected in the&nbsp;second quarter&nbsp;of 2026.

Oceaneering Secures Large Contract From A Domestic Independent Energy Company; Expected Revenue From This Contract Is Approximately $50M

Oceaneering International, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oii#NYSE">OII</a>) and&nbsp;TotalEnergies SE (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tte#NYSE">TTE</a>), a France-based integrated oil and gas company, joined forces to unveil a revolutionary advancement in pipeline inspection technology &mdash; the Freedom Autonomous Underwater Vehicle (&quot;AUV&quot;). This innovative solution promises to revolutionize the landscape of sub-marine pipeline inspections, setting a new standard for sustainable commercial missions.
<h3>Redefining Pipeline Inspection Standards</h3>
The recent collaboration between OII,&nbsp;a provider of oil and gas equipment and services, and TTE yielded remarkable results in the form of Freedom AUV. Designed to meet the ambitious goals of TTE to reduce environmental impacts, while ensuring pipeline integrity, Freedom AUV represents a significant leap forward in inspection capabilities.
<h3>Unparalleled Capabilities</h3>
The capabilities demonstrated in the pilot phase highlighted the commitment of OII and TTE to pushing the boundaries of underwater inspection technology. With a focus on reducing time and emissions, Freedom AUV boasts a remarkable 50% improvement over existing methods, all while maintaining the highest standards of inspection quality.
<h3>Milestone Achievements</h3>
The North Sea pilot program conducted by TotalEnergies was a testament to the effectiveness of Freedom AUV. More than 120km of sub-marine pipelines were inspected with precision and efficiency, building after previous demonstrations that covered an additional 60km of near-shore pipelines.
The ability of Freedom AUV to detect and track pipelines, while adhering to defined flight parameters, showcased its versatility and reliability in real-world applications.
<h3>Cutting-Edge Technology</h3>
Central to the success of Freedom AUV is its state-of-the-art instrumentation, including a laser scanning system and multibeam sonar technology. These advanced tools enable a detailed external inspection of subsea pipeline features, providing invaluable insights into their condition and surrounding environment. Moreover, the onboard autonomous capabilities ensure precise pipeline tracking, delivering comprehensive data sets with unparalleled speed and accuracy.
<h3>Implications for Industry</h3>
The introduction of Freedom AUV is a significant landmark in the evolution of underwater inspection technology. By streamlining inspection processes and reducing reliance on traditional Remotely Operated Vehicle methods, Freedom AUV offers a cost-effective and environmentally friendly solution for pipeline operators worldwide.
<h3>Enhanced Efficiency</h3>
One of the key advantages of Freedom AUV is its ability to conduct rapid pipeline inspections with minimal operational overhead. By automating data collection and processing tasks, Freedom AUV significantly reduces the time required to assess pipeline integrity, allowing for quicker decision-making and responding to potential issues.
<h3>Environmental Sustainability</h3>
In an era of increasing environmental awareness, Freedom AUV represents a major step forward in minimizing the ecological footprint of underwater inspection activities. By reducing the need for large vessels and lowering emissions associated with traditional inspection methods, Freedom AUV aligns with the sustainability goals of both OII and TTE.
<h3>Industry Recognition &amp; Prospects</h3>
The successful deployment of Freedom AUV garnered widespread acclaim within the industry, with key stakeholders praising its performance and potential. TTE continues to explore new applications for Freedom AUV, including offshore wind projects.
<h3>Collaboration &amp; Innovation</h3>
The development of Freedom AUV was the result of a collaborative effort between OII, TTE, Chevron Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) and Equinor ASA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eqnr#NYSE">EQNR</a>). By leveraging the collective expertise and resources of these industry leaders, Freedom AUV has emerged as a game-changing solution for underwater inspection challenges.
Chevron, through its subsidiaries, engages in integrated energy and chemicals operations in the United States and internationally. The company operates under two segments &mdash; Upstream and Downstream.
EQNR, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally. The company operates through Exploration &amp; Production Norway, Exploration &amp; Production International, Exploration &amp; Production USA, Marketing, Midstream &amp; Processing, Renewables, and Other segments.
<h3>Expansion Into New Markets</h3>
With its proven record and versatile capabilities, Freedom AUV is poised to make waves in new markets beyond traditional oil and gas pipelines. As demand for renewable energy sources continues to grow, Freedom AUV holds immense potential for applications in offshore wind farms and other renewable energy projects.
<h3>Conclusion</h3>
The collaboration between Oceaneering and TotalEnergies yielded an innovative advancement in underwater inspection technology with the introduction of Freedom AUV. By combining cutting-edge instrumentation with autonomous capabilities, Freedom AUV set a new standard for efficiency, precision and environmental responsibility in pipeline inspection missions. As industry leaders continue to embrace this innovative solution, the future of underwater exploration looks brighter than ever.
<h3>Zacks Rank&nbsp;</h3>
<div>
Currently, OII and TTE carry a Zacks Rank #3 (Hold) each.
</div>
<a href="https://www.zacks.com/stock/news/2282817/oceaneering-oii-tests-auv-for-subsea-pipeline-inspection?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2282817">To read this article on Zacks.com click here.</a>

Oceaneering Tests AUV for Subsea Pipeline Inspection

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Shares of several oil & gas companies are trading lower following an OPEC+ meeting in which members said they would start phasing out voluntary production cuts in October.

Oceaneering Q2 2024 Earnings Preview

Oceaneering Non-GAAP EPS of $0.28 misses by $0.03, revenue of $668.8M beats by $15.32M

Oceaneering falls after quarterly earnings miss estimates

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Oceaneering International (NYSE:<a href="https://investorplace.com/stock-quotes/oii-stock-quote/">OII</a>) just reported results for the second quarter of 2024.<ul><li>Oceaneering International reported earnings per share of 28 cents. This was below the analyst estimate for EPS of 30 cents.</li><li>The company reported revenue of $668.81 million.</li><li>This was 2.35% better than the analyst estimate for revenue of $653.47 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/oii-stock-earnings-oceaneering-international-for-q2-of-2024/">OII Stock Earnings: Oceaneering International Misses EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

OII Stock Earnings: Oceaneering International Misses EPS, Beats Revenue for Q2 2024

In a report released today, Kurt Hallead from Benchmark Co. maintained a Buy rating on Oceaneering International (OII – Research Report), with a pr...

Oceaneering International (OII) Receives a Buy from Benchmark Co.

Oceaneering International, Inc. (OII) Q2 2024 Earnings Call Transcript

Crude oil extends losses on China demand concerns, Gaza ceasefire hopes

Barclays analyst Eddie Kim maintained a Sell rating on Oceaneering International (OII – Research Report) today and set a price target of $24.00. Th...

Oceaneering International (OII) Gets a Sell from Barclays

An update from Oceaneering International (OII) is now available. Starting August 23, 2024, Oceaneering will offer an investor handout on their webs...

Oceaneering International Unveils Informative Investor Handout

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Press Releases

Oceaneering Reschedules Time of First Quarter 2024 Earnings Conference Call

Oceaneering Reports First Quarter 2024 Results

Oceaneering Announces Manufactured Products Contracts with Petrobras

Oceaneering to Present at the J.P. Morgan Energy, Power & Renewables Conference

Oceaneering's Manufactured Products Segment Secures Large Umbilical Contract

Oceaneering Announces Dates for Second Quarter 2024 Earnings Release and Conference Call

Oceaneering Awarded Multiple Contracts for Vessel Services in the Gulf of Mexico

Oceaneering Reports Second Quarter 2024 Results

Oceaneering to Participate at the Barclays CEO Energy-Power Conference

Oceaneering Announces Dates for Third Quarter 2024 Earnings Release and Conference Call

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