Buy or Sell: Oceaneering International Inc. (NYSE: OII)


The increase in Oceaneering International (OII) stock price on Thursday reflects a rise in performance over the past months. The performance of the stock so far this year can be measured using a few metrics. OII has a 52-week high price of $13.69, which is higher than its current trading price by 15.63%. The current price of OII is -474.63% lower than its 52-week low price of $2.01. Market capitalization was $ 1.11 billion due to Wall Street’s positive response to the company’s report.

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Oceaneering reduced its sales by 24% year-on-year at the end of the last quarter, totalling $ 424.3 million. As a result of COVID-19, the company’s revenues decreased by 11% as many clients suspended the implementation of several projects. However, Oceaneering surprised the market, significantly increasing its profitability. GAAP loss per share was $0.25, compared to an annual loss of $ 2.66. At the same time, management revealed that profits would be positive in 2021, and revenue will decrease slightly.

The financials are not yet Oceaneering’s main strength, as the company is still suffering heavy losses. At the same time, Oceaneering has a set of technologies that are in demand, the adoption of which is in the early stages. First of all, these are underwater robots, sophisticated enough to replace divers in most cases when performing work for oil and gas companies.

In addition to manufacturing subsea pipelines and transmission equipment, Oceaneering International (OII)  also manufactures fittings and components for cable lines, cable lifts, pumping stations, etc. One example is Oceaneering receiving a contract for the supply of pipe connectors to the Deep Water Khaleesi and Mormont projects for deepwater oil extraction in the Gulf of Mexico.

In addition to valves, valves, fittings, and other equipment, Oceaneering International (OII)  can offer robotics to interact with this equipment. As the industry faces a talent shortage and demand increases for automation, Oceaneering’s integrated solutions can be a long-term sales driver.  


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