Oceaneering International, Inc. research snapshot
OII AI stock analysis currently reads Oceaneering as an established subsea robotics and offshore services company benefiting from a multi-year recovery in deepwater oil and gas capital spending. The July 10, 2026 close of $42.10 reflected a 75 percent year-to-date gain and took the stock above the average analyst target of $36.50. TTM revenue reached $2.80 billion, net income was $339 million, and the company generated $255 million of levered free cash flow. Recent wins including a four-year Petrobras ROV contract and a $345 million credit facility expansion support the operational story, while the balance sheet carries more debt than cash. The valuation at 12.53x trailing earnings and 1.52x revenue is not extreme for this cycle phase, but the stock already prices in a strong offshore recovery and leaves limited room for macro or operational disappointment. This is informational research and not investment advice.
Current price
$42.10 close on July 10, 2026
Market cap
About $4.20 billion by price and shares-outstanding math
AI score
62 / 100
Rating
A well-run energy services company with strong ROV franchise and recovering offshore spending, but priced near consensus targets after a large YTD rally
Trend status
Near a 52-week high with strong positive momentum across multiple time frames
Data cutoff (updated weekly)
July 12, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Oceaneering is a specialized offshore ROV and subsea engineering company with five operating segments serving energy, defense, and aerospace customers. Its ROV fleet is among the largest in the world and supports recurring service revenue. | High |
| Moat | The competitive advantages include ROV fleet scale, subsea engineering expertise, long-term service contracts, safety qualification barriers, aerospace and defense certifications, and multi-year customer relationships with deepwater operators. | Medium-high |
| Management | Management has navigated the offshore downturn and deleveraging cycle, recently refinanced debt at scale, expanded the credit facility, and won a strategic Petrobras ROV contract. The senior notes offering and tender process indicate active balance-sheet management. | Medium-high |
| Financial trend | TTM revenue of $2.80 billion and net income of $339 million show strong recovery from the offshore trough. Profit margin of 12.12 percent and ROE of 35.89 percent are robust for the energy services peer group. | High |
| Valuation | At $42.10, the trailing P/E of 12.53x and P/S of 1.52x are within the energy services cycle range. The stock trades above the $36.50 consensus analyst target, implying the market already discounts continued improvement. | High |
| Technical trend | Near a 52-week high of $42.31 with a strong YTD advance and volume profile above the recent average. The trend is positive but extended after the 75 percent YTD rally. | Medium |
| Risk level | Risk is medium-high. OII is exposed to oil price volatility, offshore capex cycles, customer concentration (Petrobras is a major customer), debt leverage, and the cyclical nature of the energy services industry. | High |
| AI confidence | Reported financial data and valuation inputs are well supported by multiple sources. AI cannot predict oil prices, Petrobras budget decisions, ROV utilization rates, or competitive contract bids. | High data confidence |
| Investment certainty | Low-medium certainty. The operational momentum is real and the ROV franchise is differentiated, but the stock price already discounts a strong cycle scenario and offers limited margin of safety versus consensus targets. | Low-medium |
OII AI stock forecast
The OII AI stock forecast is a scenario framework, not a certain price prediction. It uses a three-year sensitivity around the $42.10 cutoff price and the $3.36 TTM EPS. The model shows how growth and multiple assumptions affect the range, not a guaranteed outcome.
$80 to $95
More likely if offshore deepwater spending accelerates, the Petrobras contract expands or leads to additional awards, defense and aerospace revenue grows, margins improve, and the earnings multiple expands to 18x. The three-year sensitivity produced about $92 using 15 percent EPS growth and an 18x multiple.
$50 to $60
More likely if offshore activity remains at current levels, ROV utilization stays steady, debt is gradually reduced, and the multiple holds near 13x. The sensitivity produced about $55 using 8 percent EPS growth and a 13x multiple.
$24 to $30
More likely if oil prices decline, offshore operators cut capex, ROV pricing faces pressure, or the earnings multiple contracts toward 8x. The sensitivity produced about $27 using flat EPS growth and an 8x multiple.
OII AI technical analysis
OII AI technical analysis uses the $42.10 July 10 close and data from Yahoo Finance. The stock is near its 52-week high at $42.31 and has strong YTD momentum. Beta of 1.15 means moderate sensitivity to broader market moves. This static page does not fetch live chart data, so confirm every level before acting.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $42.10 close on July 10, 2026 | Last verified closing quote used for this page. Confirm the live quote before using any level. |
| Near support | $38 to $40 | The area near the recent consolidation range and the 50-day moving average estimate. |
| Secondary support | $32 to $34 | The area of prior resistance from the Q4 2025 and early 2026 trading range, now a potential support zone. |
| Near resistance | $42 to $44 | The 52-week high area and the round-number zone near consensus analyst upside targets. |
| Moving averages | 50-day estimate near $37 to $39; 200-day well below current price | Price is well above both moving averages, a structurally positive configuration that can persist in strong trends. |
| Momentum | Strongly positive. YTD gain of 75.20 percent | Momentum is clearly positive but also extended. Pullbacks of 10 to 15 percent are normal in energy service trends. |
| Volume | Recent volume of 617,620 versus average of about 1,108,840 shares | The most recent session had below-average volume. A confirmed breakout or breakdown is more credible on above-average volume. |
| Volatility | Beta 1.15 | OII has moved roughly in line with the broader market on average, but energy services stocks can become much more volatile around oil price moves and earnings. |
| Invalidation | Sustained close below $32 to $34 | A sustained close below the secondary support zone would weaken the structural uptrend and warrant a fresh technical review. |
OII AI trading strategy
The OII AI trading strategy is a rules-based educational framework, not personalized advice. It combines technical levels with reported business milestones and industry cycle indicators. Pineify tools can help turn these conditions into chart alerts or a testable Pine Script strategy.
If OII pulls back toward $38 to $40 on declining volume and then reclaims the near-resistance zone with volume above average, consider whether the offshore capex cycle, contract backlog, and oil price fundamentals support the move.
Do not treat a single intraday bounce as confirmation. A failed reclaim of the resistance area or a volume spike on a breakdown below support should reduce confidence.
If OII retraces significantly from the 52-week high toward the secondary support zone near $32 to $34, compare the setup with oil prices, offshore drilling rig counts, Petrobras spending commentary, and quarterly ROV utilization data.
Define loss limits before entry. Mean reversion in energy services can fail if the macro cycle turns, so position sizing should be conservative.
Track revenue growth, segment profitability (especially Subsea Robotics and Manufactured Products), ROV fleet utilization, order backlog, debt levels, free cash flow, and Petrobras and other major customer contract developments.
Lower the rating if Petrobras spending slows, oil prices decline materially, debt increases relative to EBITDA, or free cash flow turns negative for two consecutive quarters.
Investment research summary
Oceaneering provides subsea robotics, manufactured subsea products, offshore project services, asset integrity management, and aerospace/defense engineering. Customers pay for specialized ROV services and subsea hardware that are costly to replicate and essential for deepwater oil and gas operations.
The competitive advantages are built on ROV fleet scale (one of the largest globally), long-term service contracts with deepwater operators, safety and qualification barriers, subsea engineering expertise, and defense/aerospace certifications.
The thesis can fail if oil prices fall meaningfully and offshore operators cut capex, Petrobras reduces its ROV and subsea services spending, ROV pricing and utilization decline, the debt burden becomes restrictive, or competitive pressure from TechnipFMC, Schlumberger, or other subsea players intensifies.
Management recently demonstrated active balance-sheet management by pricing $500 million of senior notes, increasing the credit facility to $345 million, and launching a tender for older higher-coupon debt. These moves strengthen liquidity and reduce interest cost, though they add to gross debt.
Offshore oil and gas capital spending is in a multi-year recovery driven by deepwater project economics, sustained oil demand, and the need to replace depleting reserves. AUV and ROV technology adoption is growing across energy, defense, and infrastructure inspection markets.
At roughly 12.53x trailing earnings and 1.52x revenue, OII is not expensive in absolute terms, but the stock trades above the $36.50 consensus analyst target after a 75 percent YTD rally. The margin of safety is narrow versus consensus, though earnings and cash flow are on an improving trend.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| OII price | $42.10 close on July 10, 2026 | Yahoo Finance OII summary | July 12, 2026 |
| Market capitalization | $4.20 billion, verified as $42.10 x about 99.7 million shares | Yahoo Finance OII and Pineify financial_rigor.py calculation | July 12, 2026 |
| Shares outstanding | About 99.7 million shares | Derived from market cap and price via Yahoo Finance | July 12, 2026 |
| TTM revenue | $2.80 billion | Yahoo Finance OII key statistics | July 12, 2026 |
| TTM net income | $339.49 million | Yahoo Finance OII key statistics | July 12, 2026 |
| TTM diluted EPS | $3.36 | Yahoo Finance OII key statistics | July 12, 2026 |
| Cash and debt | $614.47 million cash; total debt/equity 76.28 percent | Yahoo Finance OII key statistics | July 12, 2026 |
| Levered free cash flow (TTM) | $254.64 million | Yahoo Finance OII key statistics | July 12, 2026 |
| Valuation ratios | Trailing P/E 12.53x; P/S 1.52x; P/B 3.79x; EV/EBITDA 10.73x | Yahoo Finance OII key statistics and Pineify calculation | July 12, 2026 |
| Technical inputs | 52-week range $20.21 to $42.31; beta 1.15; average volume about 1.1 million shares | Yahoo Finance OII summary | July 12, 2026 |
This OII page is an informational research tool, not investment advice or a recommendation to buy or sell a security. Forecast scenarios use available data and assumptions that may be wrong. Markets, oil prices, financial results, and technical levels can change quickly; verify current information and consider a qualified financial professional before acting.
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