Oceaneering International (OII) shares ended the last trading session 13.4% higher at $18.08. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.8% loss over the past four weeks.
Oceaneering International is a global provider of engineered services and products, primarily to the offshore oil and gas industry. The stock’s positive movement corresponds with the market's response to the tariff pause, which reduced immediate trade uncertainties and provided a temporary boost to oil and natural gas prices, favoring energy service providers like Oceaneering International. This rise reflects the broader market sentiment driven by President Trump's tariff policy.
This oilfield services company is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of +157.1%. Revenues are expected to be $663.56 million, up 10.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Oceaneering International, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OII going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Oceaneering International is a member of the Zacks Oil and Gas - Field Services industry. One other stock in the same industry, Core Laboratories (CLB), finished the last trading session 20.1% higher at $12.73. CLB has returned -27.5% over the past month.
Core Laboratories' consensus EPS estimate for the upcoming report has changed -9.1% over the past month to $0.15. Compared to the company's year-ago EPS, this represents a change of -21.1%. Core Laboratories currently boasts a Zacks Rank of #4 (Sell).
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This article originally published on Zacks Investment Research (zacks.com).
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