Oceaneering International, Inc. (NYSE: OII) reported a solid second quarter for 2026, with revenue rising to $768.2 million, up 10.0% year over year and above the $742.1 million estimate. Net income attributable to common shareholders climbed 16.8% to $63.6 million, while diluted earnings per share increased 20.4% to $0.65, topping expectations of $0.46.
Profitability also improved across the income statement. Gross profit increased to $157.0 million, operating profit rose to $88.2 million, and the company continued to expand earnings faster than sales. Cost of sales rose to $611.2 million, but not enough to prevent better margins and stronger bottom-line growth.
On the balance sheet, cash and cash equivalents increased to $607.5 million, giving the company a stronger liquidity position. Total liabilities were $1.5 billion, up slightly from a year earlier.
- Revenue: $768.2 million, up 10.0%
- Net income: $63.6 million, up 16.8%
- Diluted EPS: $0.65, up 20.4%
- Cash and cash equivalents: $607.5 million
The stock moved higher by 4.13% after the market close following the release.
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
Oceaneering International, Inc. Insider Trading Activity
Oceaneering International, Inc. insiders have traded $OII stock on the open market 18 times in the past 6 months. Of those trades, 0 have been purchases and 18 have been sales.
Here’s a breakdown of recent trading of $OII stock by insiders over the last 6 months:
- MARTIN J MCDONALD (SVP, Subsea Robotics) has made 0 purchases and 2 sales selling 70,000 shares for an estimated $2,690,131.
- BENJAMIN LAURA (SVP & Chief Operating Officer) has made 0 purchases and 2 sales selling 38,282 shares for an estimated $1,432,774.
- HOLLY KRIENDLER (SVP, Chief H.R. Officer) has made 0 purchases and 2 sales selling 24,805 shares for an estimated $933,457.
- M KEVIN MCEVOY sold 25,678 shares for an estimated $905,663
- EARL CHILDRESS (SVP, Chief Commercial Ofc.) sold 22,518 shares for an estimated $842,398
- JENNIFER FREMONT SIMONS (SVP, CLO and Secretary) sold 10,284 shares for an estimated $400,664
- LEONARDO P GRANATO (SVP, IMDS) has made 0 purchases and 3 sales selling 9,853 shares for an estimated $368,584.
- KAREN H BEACHY sold 9,800 shares for an estimated $366,617
- CATHERINE E DUNN (VP, Chief Accounting Officer) has made 0 purchases and 2 sales selling 9,070 shares for an estimated $341,581.
- DEANNA L GOODWIN sold 7,000 shares for an estimated $284,830
- CHRISTOPHER J DYER (SVP, OPGroup) sold 6,000 shares for an estimated $228,480
- RODERICK A. LARSON (President and CEO) sold 5,000 shares for an estimated $191,350
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
Oceaneering International, Inc. Hedge Fund Activity
We have seen 196 institutional investors add shares of Oceaneering International, Inc. stock to their portfolio, and 122 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- REINHART PARTNERS, LLC. added 1,648,423 shares (+inf%) to their portfolio in Q2 2026, for an estimated $66,794,099
- BROWN ADVISORY INC removed 1,638,380 shares (-22.1%) from their portfolio in Q1 2026, for an estimated $58,113,338
- BARROW HANLEY MEWHINNEY & STRAUSS LLC added 1,420,954 shares (+inf%) to their portfolio in Q1 2026, for an estimated $50,401,238
- PRICE T ROWE ASSOCIATES INC /MD/ added 1,193,937 shares (+1178.5%) to their portfolio in Q1 2026, for an estimated $42,348,945
- BOSTON PARTNERS added 854,941 shares (+inf%) to their portfolio in Q1 2026, for an estimated $30,324,757
- POINT72 ASSET MANAGEMENT, L.P. removed 699,212 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $24,801,049
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/ added 681,600 shares (+inf%) to their portfolio in Q1 2026, for an estimated $24,176,352
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Oceaneering International, Inc. Government Contracts
We have seen $79,955,502 of award payments to $OII over the last year.
Here are some of the awards which we have have seen pay out the most over the last year:
- SUBMARINE RESCUE OPERATIONS AND MAINTENANCE CONTRACTOR (SROMC): $22,321,753
- ENGINEERING AND TECHNICAL SERVICES: $19,474,008
- NEW HAMPSHIRE (AMP) WORK PACKAGE AT NNSY - SUBSAFE: $6,523,348
- MACRO/MICRO CRANE (MMC) AND A VACUUM-BASED ADVANCED MOORING SYSTEM (AMS): $6,280,000
- ENGINEERING AND TECHNICAL SERVICES: $5,369,587
To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.
Oceaneering International, Inc. Price Targets
Multiple analysts have issued price targets for $OII recently. We have seen 3 analysts offer price targets for $OII in the last 6 months, with a median target of $39.0.
Here are some recent targets:
- Scott Gruber from Citigroup set a target price of $40.0 on 06/18/2026
- David Anderson from Barclays set a target price of $39.0 on 05/08/2026
- Marc Bianchi from TD Cowen set a target price of $36.0 on 04/30/2026
