Track market-moving stories before they get noisy

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at Oceaneering International (OII - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Oceaneering International currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market? In order to see if OII is a promising momentum pick, let's examine some Momentum Style elements to see if this oilfield services company holds up.

A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.

For OII, shares are up 1.6% over the past week while the Zacks Oil and Gas - Field Services industry is up 1.47% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 7.15% compares favorably with the industry's 3.17% performance as well.

Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of Oceaneering International have increased 30.49% over the past quarter, and have gained 113.63% in the last year. On the other hand, the S&P 500 has only moved 1.98% and 19.92%, respectively.

Investors should also take note of OII's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now OII is averaging 824,100 shares for the last 20 days..

Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with OII.

Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. This revision helped boost OII's consensus estimate, increasing from $1.89 to $2.10 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.

Bottom LineTaking into account all of these elements, it should come as no surprise that OII is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Oceaneering International on your short list.

On August 27, 2026, Oceaneering International Inc OII shares rose 3.2% to a current price of $51.21, within a 52-week range of $22.02 to $54.25. The recent price increase comes amid a year-to-date surge of 113.1%, reflecting significant gains over the past year.

GF Value™ verdict: Current price is $51.21, which is 83.1% above the GF Value of $27.97, indicating the stock is overvalued. GF Score™ is 66/100, suggesting an above-average performance compared to peers. Most notable signal: Insiders sold $11.9 million worth of shares in the past 12 months, with no recorded buying activity. Is OII Overvalued or Undervalued? The current market price of Oceaneering International Inc OII at $51.21 signifies that the stock is significantly overvalued, as indicated by the GF Value™ estimate of $27.97. This represents an 83.1% margin by which the stock exceeds its intrinsic value. The GF Valuation label categorizes OII as "Significantly Overvalued," which raises concerns about the sustainability of its current price level. Investors may face risks as the market may eventually correct this discrepancy, potentially leading to a decline in share price.

GF Value™ is GuruFocus' proprietary estimate of a stock's intrinsic value, derived from a blend of historical trading multiples, past performance metrics, and predictions about future growth. Given that OII is trading well above this intrinsic value, it suggests that the current market sentiment may not be supported by fundamentals, leading to potential volatility ahead.

How Does OII's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 14.7x 19.7x (5-Year Median) Forward P/E 25.0x - OII's current P/E ratio of 14.7x is significantly below its 5-year median of 19.7x, indicating that the stock is trading at a discount relative to its historical valuation metrics. However, the forward P/E of 25.0x suggests expectations of higher earnings growth moving forward. This P/E analysis somewhat aligns with the GF Value™ verdict, reinforcing the notion that while OII's current earnings multiple appears attractive historically, the stock is still overvalued when considering its intrinsic value.

What Does OII's GF Score™ Tell Us? The GF Score™ measures a stock's overall quality and performance based on various factors, including financial strength, profitability, growth potential, valuation, and momentum. OII's GF Score™ stands at 66/100, with its strongest sub-rank in growth (8/10) and its weakest in valuation (1/10).

Metric Rating GF Score™ 66/100 Financial Strength 7/10 Profitability 6/10 Growth 8/10 Valuation 1/10 Momentum 3/10 The mixed scores indicate that while OII has solid growth prospects, its valuation is a significant concern, ranking at the lowest tier. The financial strength score of 7/10 suggests a stable foundation, yet combined with a valuation rank of 1/10, it highlights the risk associated with its current price level.

What Are Gurus and Insiders Doing with OII? Currently, 8 gurus hold positions in Oceaneering International Inc OII, with 5 increasing their stakes and 3 reducing their holdings in recent quarters. This activity among institutional investors indicates a mixed sentiment towards the stock.

However, insider activity shows a concerning trend as insiders have sold a total of $11.9 million worth of shares over the past 12 months without any buying activity. This pattern suggests a lack of confidence from those closest to the company regarding its future performance, which could raise red flags for potential investors.

What This Means for Investors In conclusion, Oceaneering International Inc OII appears to be significantly overvalued based on the GF Value™ estimate, which suggests that investors may face considerable risks if they enter the stock at its current price level. The high insider selling and low valuation rank further underline the cautious stance on this stock. For those looking for a deeper analysis, visit the Oceaneering International Inc (OII) stock page for further insights.

Frequently Asked Questions What is OII's GF Score™?

OII's GF Score™ is 66/100, indicating an above-average performance relative to its peers.

Is OII overvalued or undervalued?

OII is overvalued according to the GF Value™ estimate, with the current price being 83.1% above the intrinsic value.

What is OII's P/E ratio?

OII's P/E (TTM) is 14.7x, which is below its 5-year median of 19.7x, indicating it is trading at a historical discount, but still overvalued based on GF Value™.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Disclosures I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Oceaneering International, Inc. (NYSE:OII – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,272,949 shares of the oil and gas company’s stock, valued at approximately $92,100,000. Barrow Hanley Mewhinney & Strauss LLC owned approximately 2.28% of Oceaneering International as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Oceaneering International during the second quarter worth $664,659,000. Vanguard Group Inc. boosted its stake in Oceaneering International by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,371,147 shares of the oil and gas company’s stock worth $297,279,000 after purchasing an additional 187,707 shares in the last quarter. State Street Corp increased its holdings in shares of Oceaneering International by 4.9% in the fourth quarter. State Street Corp now owns 4,647,252 shares of the oil and gas company’s stock valued at $111,673,000 after purchasing an additional 215,366 shares in the last quarter. Morgan Stanley Institutional Investment Advisors LLC bought a new position in Oceaneering International in the fourth quarter valued at about $94,847,000. Finally, Dimensional Fund Advisors LP grew its stake in Oceaneering International by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,477,068 shares of the oil and gas company’s stock valued at $83,556,000 after acquiring an additional 191,117 shares during the period. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In OII has been the topic of several analyst reports. TD Cowen boosted their price target on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Weiss Ratings downgraded Oceaneering International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Barclays boosted their price objective on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Citigroup raised their price target on Oceaneering International from $40.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen downgraded Oceaneering International from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.00.

Get Our Latest Analysis on OII Oceaneering International Stock Up 0.0% Oceaneering International stock opened at $53.01 on Monday. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 15.23 and a beta of 1.15. The company has a current ratio of 2.18, a quick ratio of 1.90 and a debt-to-equity ratio of 0.42. Oceaneering International, Inc. has a 1-year low of $22.02 and a 1-year high of $54.25. The firm’s fifty day moving average price is $44.53 and its two-hundred day moving average price is $39.23.

Oceaneering International (NYSE:OII – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The oil and gas company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. The firm had revenue of $768.18 million during the quarter, compared to the consensus estimate of $735.69 million. Oceaneering International had a return on equity of 18.40% and a net margin of 12.19%.The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. On average, equities research analysts predict that Oceaneering International, Inc. will post 2.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Oceaneering International In other Oceaneering International news, Director Paul B. Murphy, Jr. sold 10,000 shares of Oceaneering International stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $48.37, for a total value of $483,700.00. Following the transaction, the director directly owned 68,916 shares of the company’s stock, valued at $3,333,466.92. The trade was a 12.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher J. Dyer sold 1,200 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.65, for a total transaction of $57,180.00. Following the transaction, the senior vice president directly owned 14,702 shares in the company, valued at approximately $700,550.30. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 26,901 shares of company stock worth $1,277,904 in the last quarter. 1.30% of the stock is currently owned by company insiders.

(Free Report)

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.

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It has been about a month since the last earnings report for Oceaneering International (OII - Free Report) . Shares have added about 9.3% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Oceaneering International due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

Oceaneering Q2 Earnings & Revenues Rise Y/Y, Adjusted EBITDA UpOceaneering International reported second-quarter 2026 earnings of 65 cents per share, up from 54 cents in the year-ago quarter. Higher year-over-year operating income from the company's Subsea Robotics, Manufactured Products, Offshore Projects Group and Aerospace and Defense Technologies segments contributed to this improvement.

Total revenues were $768.2 million, increased approximately 10% from the year-ago quarter’s $698.2 million. This increase reflected revenue growth across all segments except Integrity Management & Digital Solutions.

In the second quarter of 2026, the Houston, TX-based oil and gas equipment and services company reported adjusted EBITDA of $114.5 million, up 10.9% year over year.

Operating income increased 11% year over year to $88.2 million. Gross margin expanded to $157 million from $148.4 million, reflecting revenue growth and improved performance across most operating segments.

Q2 Segmental InformationSubsea Robotics (SSR): The unit provides remotely operated submersible vehicles for drill support, vessel-based inspection, subsea hardware installation, pipeline surveys and maintenance services.

Revenues totaled $232 million compared with the year-ago quarter’s $218.8 million.

The segment also reported an operating income of $66.3 million compared with $64.5 million a year ago.

The company's segment delivered an EBITDA margin of 35% in the second quarter of 2026, flat compared with the year-ago quarter. Revenue per day for remotely operated vehicles (“ROV”) rose to $11,894, while ROV fleet utilization slightly decreased to 66%.

Manufactured Products: The segment focuses on the manufactured products business, theme park entertainment systems and automated guided vehicles.

Revenues totaled $149 million compared with the year-ago quarter’s $145.1 million.

The segment posted an operating profit of $21.9 million in the second quarter, up from the year-ago quarter’s $18.8 million.

The backlog totaled $445 million as of June 30, 2026, down 13.8% from the same time in 2025. For the 12 months ending June 30, 2026, the book-to-bill ratio was 0.88.

Offshore Projects Group (OPG): This segment involves Oceaneering’s former Subsea Projects unit, excluding survey services and global data solutions, the service and rental business and ROV tooling.

Revenues increased about 22.5% to $182.8 million from $149.3 million in the year-ago quarter.

The unit’s operating income totaled $30 million compared with the prior-year quarter’s $21.7 million. The company’s operating income margin slightly increased to 16% from the prior-year quarter’s 15%, reflecting favorable project mix and disciplined execution.

Integrity Management & Digital Solutions (IMDS): This segment covers Oceaneering’s Asset Integrity unit, along with its global data solutions business.

Revenues of $70.8 million decreased from the year-ago quarter’s $75.4 million.

Operating income decreased to $0.1 million from $4.6 million due to lower activity, weaker cost absorption and higher personnel-related costs in West Africa and the Middle East.

Aerospace and Defense Technologies (ADTech): The segment is engaged in Oceaneering’s government business, which focuses on defense subsea technologies, marine services and space systems.

Revenues totaled $133.5 million, up from $109.6 million recorded in the second quarter of 2025.

The operating income increased to $16.4 million from $16.3 million in the year-ago quarter. Operating income margin decreased to 12% from 15% in the year-ago quarter due to program mix and timing.

Capital Expenditure & Balance SheetThe capital expenditure in the second quarter, including acquisitions, totaled $30.8 million.

As of June 30, 2026, OII had cash and cash equivalents worth $629.5 million and $688.9 million, respectively, along with a long-term debt of about $490.2 million. The debt-to-capitalization was 29.6%.

The company repurchased 263,335 shares for approximately $10 million. OII also issued $500 million of senior notes due 2034 and increased its revolving credit commitments to $345 million from $215 million.

Q3 and 2026 Outlook by OceaneeringThe company expects consolidated revenues to increase in the third quarter of 2026, with EBITDA projected in the range of $115 million to $125 million. At the segment level, SSR is expected to post growth in both revenues and operating income. Manufactured Products is projected to witness slight declines in revenues and operating income. OPG is anticipated to deliver increases in both revenues and operating income.

IMDS revenues are expected to increase, while operating income is likely to remain relatively flat. Meanwhile, ADTech is forecasted to report higher revenues and operating income. Unallocated expenses are expected to be in the $50 million range. 

Management expressed confidence in the company's outlook for the remainder of 2026, supported by strong first-half execution, healthy demand across most of its businesses and an improved financial position. The company expects offshore activity to continue strengthening, driven by higher rig utilization, longer-duration contracts and sustained demand for subsea services.

Management also expects Subsea Robotics to benefit from higher ROV utilization and continued survey vessel activity, while the Manufactured Products backlog is anticipated to improve in the second half of 2026, supported by recent contract awards and additional opportunities in the sales pipeline. Despite ongoing uncertainty in the Middle East and lower activity in West Africa affecting the IMDS business, management believes the performance of its other operating segments remains in line with or ahead of prior expectations.

The company updated its full-year 2026 consolidated adjusted EBITDA outlook to a range of $400 million to $440 million. OII retained its previously issued consolidated and segment guidance, except that IMDS operating income is now expected to decline significantly, with the operating income margin projected to be in the low-single-digit percentage range.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.

The consensus estimate has shifted 9.43% due to these changes.

VGM ScoresAt this time, Oceaneering International has a average Growth Score of C, however its Momentum Score is doing a bit better with a B. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been trending upward for the stock, and the magnitude of this revision looks promising. It comes with little surprise Oceaneering International has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry PlayerOceaneering International belongs to the Zacks Oil and Gas - Field Services industry. Another stock from the same industry, Weatherford (WFRD - Free Report) , has gained 6.6% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.

Weatherford reported revenues of $1.11 billion in the last reported quarter, representing a year-over-year change of -8.2%. EPS of $0.55 for the same period compares with $1.87 a year ago.

For the current quarter, Weatherford is expected to post earnings of $1.20 per share, indicating a change of +7.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -11.6% over the last 30 days.

Weatherford has a Zacks Rank #5 (Strong Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at Oceaneering International (OII - Free Report) , which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Oceaneering International currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for OII that show why this oilfield services company shows promise as a solid momentum pick.

Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.

For OII, shares are up 8.82% over the past week while the Zacks Oil and Gas - Field Services industry is up 7.93% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 23.46% compares favorably with the industry's 6.95% performance as well.

While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Over the past quarter, shares of Oceaneering International have risen 34.64%, and are up 133.24% in the last year. On the other hand, the S&P 500 has only moved 4.05% and 21.62%, respectively.

Investors should also pay attention to OII's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. OII is currently averaging 1,129,269 shares for the last 20 days.

Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with OII.

Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. This revision helped boost OII's consensus estimate, increasing from $1.89 to $2.10 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.

Bottom LineTaking into account all of these elements, it should come as no surprise that OII is a #2 (Buy) stock with a Momentum Score of A. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Oceaneering International on your short list.

Posted by Defense World Staff on Aug 13th, 2026

Annex Advisory Services LLC lifted its stake in shares of Oceaneering International, Inc. (NYSE:OII – Free Report) by 29.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,302 shares of the oil and gas company’s stock after acquiring an additional 15,254 shares during the quarter. Annex Advisory Services LLC owned approximately 0.07% of Oceaneering International worth $2,727,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OII. Wilmington Savings Fund Society FSB purchased a new position in Oceaneering International during the third quarter valued at approximately $28,000. Quarry LP bought a new position in shares of Oceaneering International in the third quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its stake in shares of Oceaneering International by 335.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,442 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 1,111 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Oceaneering International in the first quarter worth $53,000. Finally, Hantz Financial Services Inc. raised its position in shares of Oceaneering International by 248.8% during the 4th quarter. Hantz Financial Services Inc. now owns 2,281 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 1,627 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Oceaneering International In other Oceaneering International news, CEO Roderick A. Larson sold 5,000 shares of Oceaneering International stock in a transaction that occurred 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 owned 397,279 shares of the company’s stock, valued at $15,203,867.33. The trade was a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Christopher J. Dyer sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.65, for a total value of $57,180.00. Following the sale, the senior vice president directly owned 14,702 shares in the company, valued at $700,550.30. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 31,901 shares of company stock worth $1,469,254. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades A number of research analysts recently weighed in on the stock. Barclays lifted their target price on shares of Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Wall Street Zen cut Oceaneering International from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Citigroup boosted their price objective on Oceaneering International from $40.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Cowen upped their price objective on Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded Oceaneering International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.00.

Check Out Our Latest Research Report on OII

Oceaneering International Price Performance Shares of NYSE:OII opened at $50.93 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.90 and a current ratio of 2.18. The firm has a fifty day moving average price of $42.63 and a 200 day moving average price of $38.11. Oceaneering International, Inc. has a fifty-two week low of $21.78 and a fifty-two week high of $53.98. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 14.64 and a beta of 1.15.

About Oceaneering International (Free Report)

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.

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Director Kevin McEvoy sold 3,000 shares of Oceaneering International, Inc. (OII +2.39%) on July 30, according to a recent SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$143,760Shares sold3,000Post-transaction shares (directly held)134,133Post-transaction value$6.39 millionTransaction value based on SEC Form 4 weighted average sale price ($47.92); post-transaction value based on July 30, 2026 market close ($47.64).

Key questionsWhat remains of the director's total equity position following this sale?
After disposing of 3,000 shares, McEvoy retains a direct ownership stake of 134,133 shares, which represents approximately 0.1% of the company.How were the shares executed in the open market?
The shares were sold in multiple transactions at prices ranging from $47.922 to $47.945, resulting in a weighted average execution price of $47.92 per share.What is the financial context of the company at the time of this transaction?
Oceaneering International, a Houston-based provider of specialized engineering services and robotic solutions, reported trailing twelve-month revenue of $2.9 billion and net income of $350.1 million as of the current reporting period.How has the stock performed leading up to this disposal?
The transaction followed a period of appreciation where the share price delivered a 113% return over the 12 months ending July 30.Company OverviewMetricValueShare Price (as of market close 2026-07-30)$47.64Market Capitalization$4.7 billionRevenue (TTM)$2.9 billionNet Income (TTM)$350.1 millionCompany SnapshotOceaneering International provides specialized engineering services, innovative products, and advanced robotic solutions, with primary revenue derived from its Subsea Robotics division that deploys Remotely Operated Vehicles (ROVs) for offshore drilling operations and subsea hardware deployment.The company operates a diversified business model serving multiple end markets, including offshore energy, defense, aerospace, manufacturing, and entertainment, generating revenue through equipment sales, robotics deployment, and specialized engineering services.Oceaneering's primary customers include major offshore energy operators, oil and gas exploration companies, and defense contractors, with a global client base spanning both established and emerging energy markets.Oceaneering International, established in 1964 and headquartered in Houston, Texas, is a global leader in subsea robotics and specialized engineering services. The company maintains a competitive advantage through its proprietary ROV technology, extensive subsea expertise, and diversified service offerings across multiple high-value industrial sectors. With TTM revenue of $2.9 billion and net income of $350.1 million, Oceaneering demonstrates strong operational performance and market positioning in the specialized offshore services industry.

What this transaction means for investorsMcEvoy parted with a sliver of a very large holding and kept more than 134,000 shares, which is a stake that dwarfs what many directors own and marks him as one of the company's more committed insiders. That matters here, in particular, because McEvoy ran Oceaneering as its chief executive for six years before joining the board, so his read on the business is unusually deep, and trimming barely 2% of his position after the stock more than doubled looks like regular diversification, not a loss of faith.

Meanwhile, the company he once led just posted a standout quarter. Oceaneering grew second-quarter revenue 10% to $768 million, and its subsea robotics arm improved on higher survey activity and better ROV pricing. Current CEO Rod Larson pointed to "continued strength across our portfolio." The firm also landed a U.S. defense contract to design an extra-large uncrewed undersea vehicle.  For long-term investors, that defense work is the newer thread to watch. Oceaneering's core offshore business is thriving, and a growing defense leg would add a steadier, less cyclical source of demand alongside it.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

First Trust Advisors LP reduced its position in Oceaneering International, Inc. (NYSE: OII) by 22.6% in the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 435,176 shares of the oil and gas company's stock after selling 127,310 shares during the

Posted by Defense World Staff on Jul 28th, 2026

Dimensional Fund Advisors LP decreased its position in Oceaneering International, Inc. (NYSE:OII – Free Report) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,461,749 shares of the oil and gas company’s stock after selling 15,319 shares during the quarter. Dimensional Fund Advisors LP owned 3.47% of Oceaneering International worth $122,780,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley Institutional Investment Advisors LLC bought a new position in Oceaneering International during the fourth quarter worth $94,847,000. Balyasny Asset Management L.P. lifted its position in shares of Oceaneering International by 916.6% in the 2nd 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 boosted its holdings in shares of Oceaneering International by 210.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 491,928 shares of the oil and gas company’s stock valued at $12,190,000 after buying an additional 333,666 shares during the period. Old West Investment Management LLC boosted its holdings in shares of Oceaneering International by 128.2% in the 4th quarter. Old West Investment Management LLC now owns 543,271 shares of the oil and gas company’s stock valued at $13,055,000 after buying an additional 305,168 shares during the period. Finally, SIR Capital Management L.P. bought a new stake in shares of Oceaneering International during the 3rd quarter valued at about $6,750,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Oceaneering International In other news, CEO Roderick A. Larson sold 5,000 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $38.27, for a total value of $191,350.00. Following the completion of the transaction, the chief executive officer directly owned 397,279 shares in the company, valued at $15,203,867.33. This trade 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. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes A number of equities analysts have issued reports on the stock. TD Cowen raised their target price on shares of Oceaneering International from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oceaneering International in a research report on Friday, May 22nd. Barclays boosted their price objective on Oceaneering International from $39.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday. Wall Street Zen upgraded Oceaneering International from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Citigroup raised their target price on Oceaneering International from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.00.

View Our Latest Research Report on OII

Oceaneering International Price Performance Shares of NYSE OII opened at $52.16 on Tuesday. The stock has a market cap of $5.20 billion, a P/E ratio of 14.99 and a beta of 1.15. The firm’s 50-day simple moving average is $40.08 and its 200 day simple moving average is $36.25. Oceaneering International, Inc. has a fifty-two week low of $20.79 and a fifty-two week high of $53.98. The company has a quick ratio of 1.90, a current ratio of 2.18 and a debt-to-equity ratio of 0.42.

Oceaneering International Profile (Free Report)

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.

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Fifth Third Bancorp grew its stake in Oceaneering International, Inc. (NYSE: OII) by 6,782.5% during the undefined quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,526 shares of the oil and gas company's stock after acquiring an additional 29,097 shares during the quarter. Fifth

3 Swing Trades for Q3 Earnings SeasonOceaneering International NYSE: OII reported second-quarter 2026 results that topped the high end of its adjusted EBITDA guidance range, with management citing strong execution across its portfolio and notable gains in offshore project activity.

President and Chief Executive Officer Rod Larson said the company’s adjusted EBITDA of $115 million was its highest quarterly level since the third quarter of 2015. He said the Offshore Projects Group, or OPG, was the largest contributor to the company’s EBITDA outperformance, driven by a favorable mix of international intervention and installation work, including light well intervention services in the Caspian Sea and an installation project offshore Egypt.

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Senior Vice President and Chief Financial Officer Mike Summerall said consolidated revenue rose 10% year over year to $768 million, with growth in every segment except Integrity Management & Digital Solutions, or IMDS. Operating income increased 11% to $88.2 million, while net income attributable to Oceaneering rose 19% to $65 million, or $0.65 per share. Adjusted EBITDA increased 11% to $115 million.

Offshore Projects and Subsea Robotics Lead Results OPG revenue increased 22% from the prior-year quarter to $183 million, while operating income rose 39% to $30 million. Summerall said the segment generated a 16% operating income margin, supported by disciplined execution on international intervention and installation projects that are expected to continue into the third quarter. Vessel utilization declined year over year, but management expects it to improve in the third quarter as the company supports customers under several frame agreements.

Subsea Robotics, or SSR, also improved year over year, with revenue increasing 6% to $232 million and operating income rising 3% to $66.3 million. Average ROV revenue per day utilized increased to $11,894 from $11,265, reflecting improved contract pricing. ROV utilization was 66%, slightly below 67% in the prior-year quarter, as activity in Europe and West Africa largely offset lower activity in the U.S. Gulf.

Summerall said SSR’s EBITDA margin remained flat at 35%, as higher ROV pricing was offset by geographic and service mix, including a larger contribution from survey work, which carries lower margins than the company’s core ROV business. Larson said the Ocean Intervention II entered service after significant upgrades in 2025 and is now performing survey projects expected to keep the vessel utilized through most of the remainder of 2026. He also said the company expects to conduct a simultaneous operations, or SIMOPS, project from the vessel later this year.

Manufactured Products Improves Margins; ADTech Wins Defense Work Manufactured Products revenue increased 3% to $149 million, while operating income rose 17% to $21.9 million. The segment’s operating income margin improved to 15%, up 178 basis points year over year. Summerall attributed the improvement to conversion of higher-margin backlog, increased volume in the Rotator valves business and improved results in the Mobility Solutions product line.

The segment’s backlog declined to $445 million as of June 30, reflecting execution of previously awarded work. Summerall said the trailing 12-month book-to-bill ratio was 0.88, compared with 0.65 a year earlier. He said the company won multiple awards early in the third quarter and expects additional awards in the third and fourth quarters, supporting management’s expectation that backlog will improve in the second half and meet full-year book-to-bill guidance of 0.9 to 1.0.

In Aerospace and Defense Technologies, or ADTech, revenue increased 22% to $133 million, while operating income was up slightly to $16.4 million. Operating income margin declined to 12%, reflecting program mix and timing in the Oceaneering Technologies, or OTech, business line.

Larson highlighted new contract awards across defense and subsea applications, including subsea robotics, subsea systems, submarine rescue and submarine maintenance, construction and installation services. He pointed to a joint contract from the Defense Innovation Unit to support development of an Extra-Large Unmanned Underwater Vehicle as an example of the company’s strategy to deploy dual-use technologies for both energy and government customers. He also noted that the Space Systems team was recognized by Lockheed Martin as a best-in-class supplier for work on the Artemis program.

Cash Flow, Buybacks and Debt Refinancing Oceaneering generated $55.2 million of cash from operating activities in the quarter. Summerall said the year-over-year decrease reflected the timing of project milestones, customer receipts and vendor payments. The company invested $23.2 million in organic capital expenditures, with 34% allocated to growth and 66% to maintenance, and generated free cash flow of $32 million.

The company resumed share repurchases during the quarter, buying back $10 million of common stock. It ended the period with $629 million in cash, total liquidity of $844 million and no borrowings under its revolving credit facility.

Summerall said Oceaneering placed $500 million of senior notes due in 2034 and used the proceeds, together with cash on hand, to retire $500 million of senior notes due in 2028. The company also amended its secured revolving credit facility, increasing commitments to $345 million from $215 million and extending the maturity to July 2031. He said those transactions would be completed in July.

Asked about capital allocation, Larson said the company’s priorities remain organic investment first, inorganic growth second and returning capital to shareholders, primarily through buybacks. He said Oceaneering intends to invest around its core energy business, particularly SSR, and also sees opportunities to expand in defense, including through partnerships and potential acquisitions.

Guidance Raised at Low End, IMDS Outlook Reduced For the third quarter, Oceaneering expects revenue to increase and adjusted EBITDA to range from $115 million to $125 million. Larson said SSR revenue and operating income are expected to rise as ROV utilization improves and survey activity continues. OPG revenue and operating income are also expected to increase on higher vessel utilization in the U.S. Gulf and West Africa, as well as continuing international projects.

For the full year, management raised the low end of adjusted EBITDA guidance and now expects consolidated adjusted EBITDA of $400 million to $440 million in 2026. Larson said first-half performance increased confidence in the company’s outlook.

However, Oceaneering lowered its outlook for IMDS, citing ongoing uncertainty in the Middle East and reduced activity in West Africa. Management now expects IMDS operating income to decrease significantly compared with full-year 2025, with operating income margin in the low single-digit percentage range. Summerall said second-quarter IMDS revenue, operating income and margin declined due to lower activity, related cost absorption and increased personnel costs in West Africa and the Middle East.

Management Sees Offshore Activity Building During the question-and-answer portion of the call, Larson said offshore activity appears to be rising, though he does not expect a sharply defined inflection point. He cited longer contracts for rigs and ROVs, greater rig utilization and higher levels of contracted rigs as indicators of improving demand.

Larson said SSR should benefit from increased rig utilization and strong tree orders and installations, while OPG should benefit from longer-term confidence in offshore projects. Summerall added that longer-term rig contracts are a positive macro indicator.

Discussing regional opportunities, Larson identified Brazil as a key growth market, pointing to Petrobras activity and the company’s recently announced ROV contract in the country. He also cited Africa, including activity around Namibia and Senegal, as well as Australia and the Far East. Summerall also pointed to Norway and activity tied to Equinor as relevant to European energy security.

On defense spending, Larson said the company is seeing more inbound interest than it did three or four years ago, particularly from partners seeking Oceaneering’s offshore operating experience. Summerall said the company participates in both submarine repair and construction and autonomy-related defense work, including lower-cost uncrewed technologies.

About Oceaneering International (NYSE:OII)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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Oceaneering International is shifting toward defense, aerospace, and underwater automation, reducing reliance on cyclical oil and gas markets. OII delivered 10% revenue growth and beat Q2 2026 analyst forecasts, with management maintaining a $400–440 million annual EBITDA outlook. A forward P/E of 25.7x and a low free cash flow margin suggest the current valuation leaves little room for execution missteps.

Deanna L. Goodwin, a member of the Board of Directors of Oceaneering International (OII 0.05%), reported the sale of 7,000 shares of common stock in an open-market transaction on July 1, 2026, according to an SEC Form 4 filing.

Transaction summaryMetricValueShares sold (direct)7,000Transaction value~$285,000Post-transaction shares (direct)35,905Post-transaction value (direct ownership)~$1.41 millionTransaction value based on SEC Form 4 weighted average reported price ($40.69); post-transaction value based on July 1, 2026 market close ($39.39).

Key questionsHow impactful was this transaction on Deanna Goodwin’s overall stake?
Goodwin reduced her direct holdings by 16.32%, retaining 35,905 shares after the sale, which comprises 0.0360% of the company's outstanding shares as of July 1, 2026.Were any indirect or derivative holdings involved in this transaction?
No, the disposition involved only directly-held common stock, with no shares traded via trusts or derivative securities. No indirect holdings were disclosed in this filing.Does this transaction reflect an established selling pattern or a one-off event?
This is Goodwin’s first open-market sale in at least two years, with prior reported transactions limited to administrative events, indicating no recurring cadence of selling activity.How does the transaction price compare to recent trading levels and the company's performance?
The weighted average sale price of $40.69 was slightly above the July 1, 2026 market close of $39.39, and follows a one-year total return of 80.84% as of the transaction date, suggesting the sale occurred near recent highs.Company overviewMetricValueEmployees10,400Revenue (TTM)$2.80 billionNet income (TTM)$339.49 million1-year price change80.84%* 1-year price change calculated as of July 1, 2026.

Company snapshotOceaneering International provides subsea robotics, manufactured products for energy infrastructure, asset integrity management, and aerospace and defense engineering solutions.The company generates revenue primarily through engineering services, equipment sales, and long-term contracts in offshore energy, defense, and industrial automation sectors.Key customers include offshore oil and gas operators, government agencies, aerospace contractors, and industrial clients seeking advanced robotic and digital solutions.Oceaneering International is a diversified engineering and technology firm with global operations and a strong presence in the offshore energy and defense markets. The company leverages a broad portfolio of subsea robotics, digital solutions, and specialized manufactured products to address complex operational challenges for major industry players. Its scale, technical expertise, and multi-sector reach underpin its competitive positioning in high-value, mission-critical applications.

What this transaction means for investorsThe June 30 sale of Oceaneering International stock by Board of Directors member Deanna Goodwin occurred at a time when shares were soaring. The stock eventually reached a multi-year high of $44.22 on July 14. Goodwin sold for a weighted average price of $40.69.

It seems Goodwin capitalized on the rising share price to lock in some gains. Post-transaction, she retained nearly 36,000 shares, a sign that she remains confident in the company’s long-term outlook.

Oceaneering stock went on a great run thanks to positive business developments. The company announced customer orders totaling $1 billion in the first quarter with some contracts extending out to 2031. Its Q1 revenue was up 3% year over year to $692 million.

Oceaneering expects further sales growth in Q2 with EBITDA in the range of $100 million to $110 million. The company produced adjusted EBITDA of $103 million in the second quarter of 2025, so it looks like it will deliver a solid increase in 2026.

Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) announced today that it has entered into an amendment to its senior secured revolving credit facility (“Credit Facility”) to, among other things, increase the commitments from $215 million to $345 million and extend the maturity date from April 2027 to July 2031. The Credit Facility includes the ability to upsize by an additional $85 million and letter of credit availability of $150 million.

Mike Sumruld, Oceaneering’s Senior Vice President and Chief Financial Officer, stated, "We are pleased to announce this amendment to our revolving credit facility, which provides additional financial flexibility to support our ongoing operations, strategic priorities, and growth initiatives. We appreciate the continued support of our bank group, which includes both long-standing relationship banks and new participating lenders."

About Oceaneering

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

For more information, please visit www.oceaneering.com.

More News From Oceaneering International, Inc.

HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) announced today the pricing terms of the previously announced cash tender offer (the “Offer”) to purchase any and all of its outstanding 6.000% Senior Notes due 2028 (the “Notes”) for the consideration described below. The Offer was announced on June 24, 2026 and was made pursuant to the Offer to Purchase dated June 24, 2026 (the “Offer to Purchase”) and the related Notice of Guaranteed Delivery.

Title of Security

CUSIP Numbers(2)

Aggregate Principal Amount
Outstanding

U.S. Treasury Reference Security

Reference Yield

Bloomberg Reference Page

Fixed Spread (basis points)

Purchase Price per $1,000 Aggregate Principal Amount of Notes

6.000% Senior Notes due 2028(1)

675232 AB8

675232 AD4

$500,000,000

3.50% UST due October 31, 2027

4.146%

FIT4

40

$1,018.46

The purchase price for each $1,000 principal amount of Notes validly tendered (the "Purchase Price"), and not validly withdrawn, and accepted for purchase pursuant to the Offer was determined in the manner described in the Offer to Purchase by reference to the fixed spread specified above, plus the yield to maturity based on the bid-side price of the U.S. Treasury Reference Security specified above, as quoted on the Bloomberg Bond Trader FIT4 series of pages at 2:00 p.m., New York City time, on June 30, 2026, the date on which the Offer is currently scheduled to expire. The Purchase Price was based on a yield to November 1, 2027, assuming the Notes are redeemed on November 1, 2027, at the specified redemption price for such date of 100.000% of the principal amount, as described in the Offer to Purchase.

The Offer will expire at 5:00 p.m., New York City time, on June 30, 2026, unless extended or earlier terminated (the “Expiration Time”). Holders who have validly tendered their Notes may withdraw such Notes at any time (i) at or prior to the earlier of (x) the Expiration Time and (y) in the event the Offer is extended, the tenth business day after the date hereof, and (ii) after the 60th business day after the date hereof if for any reason the Offer has not been consummated within 60 business days of the date hereof. The delivery of Notes tendered by guaranteed delivery procedures must be made no later than 5:00 p.m., New York City time, on July 2, 2026. Oceaneering expects to pay the consideration for Notes validly tendered and not validly withdrawn at or prior to the Expiration Time and accepted for purchase by it or tendered and delivered through the guaranteed delivery procedures on July 6, 2026, the third business day following the Expiration Time (the “Settlement Date”). The Offer is conditioned upon the satisfaction or waiver of certain conditions as set forth in the Offer to Purchase. The Offer is not conditioned upon any minimum amount of Notes being tendered. Oceaneering intends to pay for the Notes purchased in the Offer with the proceeds from its contemporaneous offering of senior notes.

The complete terms and conditions of the Offer are set forth in the Offer to Purchase and in the related Notice of Guaranteed Delivery, along with any amendments and supplements thereto, which holders are urged to read carefully before making any decision with respect to the Offer. Oceaneering has retained J.P. Morgan Securities LLC as dealer manager (the “Dealer Manager”) in connection with the Offer. Copies of the Offer to Purchase and the related Notice of Guaranteed Delivery may be obtained from Global Bondholder Services Corporation, the Depositary and Information Agent for the Offer, by phone at (212) 430-3774 (banks and brokers) or (855) 654-2014 (toll-free), by email at [email protected], or online at https://gbsc-usa.com/oii/. Questions regarding the Offer may also be directed to the Dealer Manager at +1 (866) 834-4666 (toll free) or +1 (212) 834-4818 (collect).

The Offer may be amended, extended, terminated, or withdrawn in Oceaneering’s sole discretion. There is no assurance that the Offer will be subscribed for in any amount. To the extent not all of the Notes are tendered in the Offer, Oceaneering intends to redeem any and all outstanding Notes. In connection with the Offer, Oceaneering issued a conditional notice of full redemption to redeem any Notes that remain outstanding following the Offer on or around July 25, 2026 pursuant to the indenture governing the Notes. This press release does not constitute a notice of redemption or an offer to purchase the Notes not purchased in the Offer.

This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The Offer is being made only by, and pursuant to the terms of, the Offer to Purchase and the related Notice of Guaranteed Delivery. The Offer is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky, or other laws of such jurisdiction. In any jurisdiction where the laws require the Offer to be made on Oceaneering’s behalf by a licensed broker or dealer and the Dealer Manager or one of the Dealer Manager’s affiliates is such a licensed broker or dealer in any such jurisdiction, the Offer will be deemed to be made by the Dealer Manager or affiliate, as the case may be, on behalf of Oceaneering. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities or other financial instrument that constitute financing for the Offer.

This release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements concerning the expected timing for expiration and settlement of the Offer and the closing of Oceaneering’s offering of the senior notes, the conditions to the Offer, and other matters relating to the Offer and the subsequent redemption of the Notes. The forward-looking statements included in this release are based on Oceaneering’s current expectations and are subject to certain risks, assumptions, trends, and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. For a more complete discussion of these and other risk factors, please see Oceaneering’s latest annual report on Form 10-K and subsequent quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission. You should not place undue reliance on forward-looking statements. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward-looking statement.

About Oceaneering

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

More News From Oceaneering International, Inc.

HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (“Oceaneering”) (NYSE: OII) announced today that it intends to offer $500,000,000 aggregate principal amount of Senior Notes due 2034 (the “2034 Notes”) in a private placement to eligible purchasers.

Oceaneering intends to use the net proceeds from the proposed offering, together with cash on hand, if necessary, to fund the purchase of any and all of its 6.000% Senior Notes due 2028 (the “Tender Notes”) validly tendered and accepted for purchase in the concurrent cash tender offer announced today (the “Tender Offer”). If the Tender Offer is not consummated or the net proceeds from the offering exceed the total consideration payable in the Tender Offer, Oceaneering intends to use the remaining net proceeds from the offering for general corporate purposes, which may include the repayment, redemption, or repurchase of outstanding indebtedness.

The 2034 Notes will be offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The offer and sale of the 2034 Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offers of the 2034 Notes will be made in the United States only by means of a private offering memorandum pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

This press release does not constitute an offer to purchase or a solicitation of an offer to sell any of the Tender Notes. The Tender Offer is being made only by and pursuant to, and on the terms and conditions set forth in, the Offer to Purchase dated June 24, 2026.

This release contains “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements concerning Oceaneering’s proposed offering of the 2034 Notes, the intended use of proceeds therefrom, and other matters relating to the proposed offering and the Tender Offer. The forward-looking statements included in this release are based on Oceaneering's current expectations and are subject to certain risks, assumptions, trends, and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements. For a more complete discussion of these and other risk factors, please see Oceaneering’s latest annual report on Form 10-K and subsequent quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission. You should not place undue reliance on forward-looking statements. Except to the extent required by applicable law, Oceaneering undertakes no obligation to update or revise any forward-looking statement.

About Oceaneering

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

More News From Oceaneering International, Inc.

HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) will report its second quarter 2026 financial results on Wednesday, July 22, 2026, after the close of trading on the New York Stock Exchange. Oceaneering will host a conference call and webcast to discuss the results on Thursday, July 23, 2026, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).

The earnings release and a link to the webcast will be posted on Oceaneering’s Investor Relations website.

Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries.

For more information, please visit oceaneering.com.

More News From Oceaneering International, Inc.

Dynamic Technology Lab Private Ltd bought a new position in Oceaneering International, Inc. (NYSE: OII) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,457 shares of the oil and gas company's stock, valued at approximately $457,000. Several other institutional investors have

On Feb. 25, 2026, Jennifer Simons, Senior Vice President, Chief Legal Officer, and Secretary at Oceaneering International (OII 1.51%), reported the sale of 10,284 shares of common stock for a transaction value of approximately $401,000, as disclosed in the SEC Form 4 filing.

Transaction summaryMetricValueShares sold10,284Shares withheld6,673Transaction value$400,665Post-transaction shares35,387Post-transaction value$1.34 millionTransaction value based on SEC Form 4 weighted average purchase price ($38.96); post-transaction value based on Feb. 25, 2026 market close ($37.92).

Key questionsHow does the scale of this transaction compare to Simons’ prior activity?
This sale involved 22.5% of her total holdings, a smaller proportion than the 39% sold in her previous January 2026 transaction, aligning with the declining available share base.Did the transaction impact indirect or derivative holdings?
No, the transaction solely affected directly held common stock; Simons retains no indirect or derivative positions in the company post-trade.How has Simons' ownership profile changed following this transaction?
Direct common stock holdings declined to 35,387 shares (down from 74,826 prior to January 2026), maintaining continued insider exposure but at a reduced level in line with recent administrative sales cadence.Company overviewMetricValueRevenue (TTM)$2.78 billionNet income (TTM)$353.76 millionEmployees11,1001-year price change70.81%1-year price change calculated using Feb. 25, 2026 as the reference date.

Company snapshotProvides engineered services, remotely operated vehicles (ROVs), subsea robotics, manufactured products, and digital solutions for the offshore energy, defense, aerospace, and industrial sectors.Generates revenue through project-based contracts, equipment sales, maintenance services, and recurring software and analytics solutions, with a diversified portfolio across subsea operations and asset management.Serves global energy producers, government agencies, defense contractors, and industrial clients seeking advanced subsea, robotics, and integrity management solutions.Oceaneering International is a diversified provider of engineered products and services, specializing in subsea robotics and automation solutions for complex offshore and industrial environments. The company leverages a broad portfolio—spanning robotics, manufactured products, and digital asset management—to serve energy, defense, and government customers worldwide.

Oceaneering's competitive advantage lies in its technological expertise, scale, and ability to deliver integrated solutions that enhance operational efficiency and safety for clients operating in challenging environments.

Today's Change

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39.20

What this transaction means for investorsSimons’ $400,000 sale in February was pursuant to a Rule 10b5-1 trading plan, a contract that allows company insiders to transact shares of their company on a pre-arranged basis. Rule 10b5-1 trading plans are common defenses against insider trading charges.

That said, it’s been a strong year for Oceaneering International’s stock, which had climbed 70% year over year on the date of the transaction. The company reported its fourth-quarter and full-year results on Feb. 18. Revenue decreased 6% in the fourth quarter year over year, while operating income decreased 16% and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased 11%. Net income increased 217%, partially due to a discrete tax benefit. Yet despite the challenging quarter, full-year results were positive, with revenue of $2.5 billion increasing 5% year over year, operating income of $305 million increasing 24%, net income of $354 million increasing 140%, and adjusted EBITDA up 16%.

Oceaneering International primarily serves the offshore energy industry, though its aerospace and defense operations have been growing recently. The stock may continue to see pronounced movement as storylines surrounding oil, energy, and international conflicts play out in the global markets.

Posted by Defense World Staff on Apr 13th, 2026

Oceaneering International, Inc. (NYSE:OII – Get Free Report) has received an average rating of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $33.6667.

A number of research firms have recently weighed in on OII. Zacks Research lowered Oceaneering International from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Weiss Ratings upgraded Oceaneering International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. TD Cowen lifted their price target on Oceaneering International from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Citigroup lifted their price target on Oceaneering International from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen lowered Oceaneering International from a “buy” rating to a “hold” rating in a report on Sunday, March 1st.

Read Our Latest Stock Analysis on Oceaneering International

Oceaneering International Stock Up 0.2% OII stock opened at $36.28 on Monday. Oceaneering International has a twelve month low of $16.00 and a twelve month high of $39.00. The company has a quick ratio of 1.72, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $34.81 and its 200-day moving average is $28.46. The firm has a market capitalization of $3.62 billion, a PE ratio of 10.37 and a beta of 1.18.

Oceaneering International (NYSE:OII – Get Free Report) last posted its earnings results on Wednesday, February 18th. The oil and gas company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Oceaneering International had a return on equity of 21.58% and a net margin of 12.71%.The company had revenue of $668.57 million for the quarter, compared to analyst estimates of $678.16 million. During the same quarter last year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts expect that Oceaneering International will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at Oceaneering International In related news, Director Karen H. Beachy sold 9,800 shares of Oceaneering International stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $37.41, for a total transaction of $366,618.00. Following the sale, the director directly owned 22,816 shares in the company, valued at approximately $853,546.56. This trade represents a 30.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Benjamin Laura sold 5,106 shares of Oceaneering International stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $36.88, for a total value of $188,309.28. Following the sale, the chief operating officer owned 40,805 shares in the company, valued at $1,504,888.40. This trade represents a 11.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,689 shares of company stock valued at $4,204,360 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Oceaneering International A number of hedge funds have recently bought and sold shares of OII. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Oceaneering International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,154 shares of the oil and gas company’s stock worth $1,312,000 after acquiring an additional 2,633 shares during the period. Empowered Funds LLC raised its stake in shares of Oceaneering International by 1.9% in the first quarter. Empowered Funds LLC now owns 120,776 shares of the oil and gas company’s stock valued at $2,634,000 after buying an additional 2,310 shares during the period. Strs Ohio bought a new stake in shares of Oceaneering International in the first quarter valued at $168,000. Norges Bank bought a new stake in shares of Oceaneering International in the second quarter valued at $1,485,000. Finally, Invesco Ltd. raised its stake in shares of Oceaneering International by 8.0% in the second quarter. Invesco Ltd. now owns 650,188 shares of the oil and gas company’s stock valued at $13,472,000 after buying an additional 48,382 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Oceaneering International Company Profile (Get Free Report)

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.

Further Reading Five stocks we like better than Oceaneering International

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HOUSTON--(BUSINESS WIRE)--Oceaneering Reports First Quarter 2026 Results.

Oceaneering International, Inc. (OII) Q1 2026 Earnings Call Transcript

Key Takeaways Solaris Energy Infrastructure posted Q1'26 adj EPS of $0.44, up 120% Y/Y, beating estimates.SEI Power Solutions revenues hit $128.5M, with some 910 MW earning revenues and strong contracting momentum.Solaris signed a 600 MW 10-year deal; pipeline $800M-$1B could add $160M-$200M recurring EBITDA. Solaris Energy Infrastructure (SEI - Free Report) posted first-quarter 2026 adjusted earnings of 44 cents per share, up 120% year over year and ahead of the Zacks Consensus Estimate by 69.2%. The oilfield equipment and mobile power solutions provider’s revenues were $196.2 million, up 55.3% from the year-ago quarter and above the consensus by 8.5%. Leasing revenues rose to $105.4 million, while service revenues were $90.9 million, reflecting higher scale across operations. By segment, Power Solutions revenues increased to $128.5 million, while Logistics Solutions delivered $67.7 million.

The quarter reflected stronger activity in both businesses, with Power Solutions averaging about 910 MW of capacity earning revenues and Logistics running 104 fully utilized systems. Management also highlighted continued contracting momentum tied to behind-the-meter data center power demand.

Net income was $32.1 million in the quarter. On a non-GAAP basis, adjusted EBITDA was $83.6 million, up from $46.9 million in the year-ago period, driven primarily by higher Power Solutions activity levels and a modest lift in Logistics profitability.

Solaris Expanded Power Footprint With Longer-Dated ContractsA central theme in the quarter was Solaris’ push toward longer-term behind-the-meter power arrangements for large technology customers. Subsequent to the quarter, on April 24, 2026, the company entered into an agreement to provide more than 600 MW of capacity, including balance of plant, for a 10-year term with a five-year extension option, with deployments expected to begin in late 2026 and scale through 2028.

In its investor materials, Solaris framed its contracted power base as exceeding 2,000 MW across multi-year partnerships with global technology leaders and highlighted a pro forma fleet of 3.1 GW expected to be delivered by the end of 2029.

Solaris Highlighted Balance-of-Plant Upside and Scope ExpansionBeyond just supplying power capacity, management highlighted a “turnkey” approach that includes not only generation but also supporting equipment and services. Recent long-term contracts cover a wider range of needs, such as distribution, storage and other infrastructure. This allows the company to invest more per project and potentially earn higher returns over the life of the contract.

Supporting this outlook, SEI has a strong pipeline of additional projects worth roughly $800 million to over $1 billion. If these are secured and completed, they could generate about $160 million to $200 million in recurring EBITDA.

SEI Raised Near-Term EBITDA Outlook and Updated Capital ItemsFor the second quarter of 2026, the Zacks Rank #3 (Hold) company raised total adjusted EBITDA guidance to $83-$93 million from $76-$84 million previously, and established third-quarter adjusted EBITDA guidance of $80-$95 million. Solaris also provided non-operational guideposts, including net interest expense of $5-$8 million for second-quarter 2026 and $12-$15 million for third-quarter 2026, and D&A of $32-$35 million for second-quarter 2026 and $35-$38 million for third-quarter 2026.

You can see the complete list of today’s Zacks #1 Rank stocks here.

On the capital and shareholder return front, Solaris approved a quarterly dividend of 12 cents per share payable June 12, 2026, and noted it upsized a previously announced $300 million credit facility to allow up to $500 million of commitments. At quarter-end, cash attributable to Solaris was $337.5 million, while long-term debt attributable to Solaris (net of current portion) was $395.4 million, with a debt-to-capitalization of 26.4%.

Some Key Oilfield Service EarningsWhile we have discussed SEI’s first-quarter results in detail, let’s see how some other oilfield service companies have fared this earnings season.

NOV Inc. (NOV - Free Report) reported first-quarter 2026 adjusted earnings of 15 cents per share, which missed the Zacks Consensus Estimate of 17 cents. The bottom line also decreased 21% from the year-ago quarter’s 19 cents. NOV’s total revenues of $2.1 billion beat the Zacks Consensus Estimate by 2 million but fell 2.4% from the year-ago quarter’s figure of $2.1 billion.

The lower-than-expected quarterly earnings of NOV were primarily attributable to conflict in the Middle East, which disrupted logistics, delayed deliveries and increased operational costs. In the first quarter, NOV repurchased approximately 3.5 million shares of common stock for a total of $67 million. The company also returned $33 million in dividends, resulting in a total of $100 million in capital to its shareholders during the quarter.

Oceaneering International (OII - Free Report) reported an adjusted profit of 30 cents per share for the first quarter of 2026, missing the Zacks Consensus Estimate of 35 cents. Moreover, the bottom line decreased from 43 cents in the year-ago quarter. This was due to lower operating income from its Offshore Projects Group and Integrity Management & Digital Solutions segments.

As of March 31, 2026, Oceaneering had cash and cash equivalents worth $607.5 million and $688.9 million, respectively, along with a long-term debt of about $488.8 million. The debt-to-capitalization was 30.5%. Oceaneering also reported adjusted EBITDA of $83.7 million, a 13.4% decrease year over year.

Liberty Energy (LBRT - Free Report) reported a first-quarter 2026 adjusted net profit of 6 cents per share, in contrast to the Zacks Consensus Estimate of a loss of 13 cents. The outperformance was driven by the company’s focus on technological innovation and strong operational execution. Moreover, Liberty Energy’s bottom line increased from the year-ago quarter’s profit of 4 cents.

LBRT's revenues totaled $1 billion, which beat the Zacks Consensus Estimate of $949 million. The top line also increased from the prior-year quarter’s $977 million by 4%, supported by elevated activity levels. Liberty Energy reported total costs and expenses of $998.9 million in the first quarter, increasing 4.1% from the year-ago quarter’s level.

HOUSTON--(BUSINESS WIRE)--Oceaneering's OPG has been awarded an integrated installation contract by Burullus Gas Company for the West Delta Deep Marine gas field development.

Key Takeaways OII won an offshore Egypt gas project covering transport, installation and commissioning work.The contract includes a 2,000-meter TCP flowline system and refurbished subsea gear support.Accelerated offshore operations aim to restore WDDM output and speed project execution timelines. Oceaneering International, Inc. (OII - Free Report) has secured a new integrated offshore installation contract for the West Delta Deep Marine (WDDM) gas field development offshore Egypt. The award, granted by Burullus Gas Company, is expected to contribute meaningful revenues to Oceaneering in 2026 while reinforcing the company’s position in integrated subsea project execution.

The contract highlights growing demand for fast-track offshore solutions as operators seek to restore and maintain production efficiency in mature gas-producing regions.

Scope Covers Transportation, Installation and CommissioningUnder the agreement, Oceaneering will provide a fully integrated solution covering transportation, offshore installation and commissioning activities. The work includes deployment of a refurbished subsea umbilical along with a 2,000-meter thermoplastic composite pipe (TCP) flowline replacement system.

The company will also handle procurement and integration of the TCP infrastructure as part of the project scope. Refurbishment work for the subsea umbilical was completed at Oceaneering’s manufacturing facility in Rosyth, United Kingdom, demonstrating the company’s global operational capabilities.

In addition to installation services, Oceaneering will provide remotely operated vehicle (ROV) support and offshore survey services to assist field operations throughout the execution phase.

Accelerated Schedule Aims to Restore ProductionThe offshore operations are expected to begin on an accelerated timeline, reflecting the urgency associated with restoring production capacity at the WDDM development.

According to the senior vice president of Oceaneering’s Offshore Projects Group, the contract demonstrates the company’s ability to combine logistics management, refurbishment expertise, vessel operations and ROV services into a single integrated offering.

The project also underscores the industry’s increasing preference for end-to-end offshore solutions that reduce operational complexity and improve project execution speed.

Integrated Vessel Solutions Strengthen Market PositionThe award further strengthens Oceaneering’s offshore projects portfolio and reinforces its strategic focus on integrated vessel solutions. By combining engineering expertise with subsea installation and robotic capabilities, the company continues to position itself as a comprehensive offshore services provider for global energy operators.

Egypt’s offshore gas sector remains an important regional growth market, particularly in the Mediterranean basin, where continued infrastructure investments are supporting long-term energy development initiatives.

Oceaneering Continues Expanding Offshore CapabilitiesOceaneering continues to expand its presence across offshore energy markets through integrated engineering and subsea service offerings. The latest Egypt contract reflects the company’s broader strategy of leveraging its technology, vessel operations and robotics expertise to support complex offshore developments worldwide.

Beyond offshore energy, Oceaneering also provides engineered services and robotic solutions to the defense, aerospace and manufacturing industries, diversifying its operational footprint across multiple industrial sectors.

OII’s Zacks Rank & Key PicksHouston, TX-based Oceaneering is one of the leading suppliers of offshore equipment and technology solutions to the energy industry. Currently, OII carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector may consider some top-ranked stocks like APA Corporation (APA - Free Report) , Diamondback Energy, Inc. (FANG - Free Report) and California Resources Corporation (CRC - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Houston, TX-based APA is one of the world's leading independent energy companies engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. The Zacks Consensus Estimate for APA’s 2026 earnings indicates 32.6% year-over-year growth.

Midland, TX-headquartered Diamondback Energy is an independent oil and gas exploration and production company with its primary focus on the Permian Basin. Its activities are concentrated in the Wolfcamp, Spraberry and Bone Spring formations. The Zacks Consensus Estimate for FANG’s 2026 earnings indicates 42.7% year-over-year growth.

California Resources is an independent energy and carbon management company focused primarily on California. The company operates two reportable segments: oil and natural gas, and carbon management, which it brands as Carbon TerraVault. The Zacks Consensus Estimate for CRC’s 2026 earnings indicates 35.3% year-over-year growth.