Company profile

Ticker
OII
Exchange
CEO
Roderick A. Larson
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
952628227

OII stock data

(
)

Calendar

27 May 20
4 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 536.67M 560.81M 497.65M 495.78M
Net income -367.6M -262.91M -25.52M -35.18M
Diluted EPS -3.71 -2.65 -0.26 -0.36
Net profit margin -68.50% -46.88% -5.13% -7.10%
Operating income -380.76M -254.17M -5.19M -9.64M
Net change in cash -66.2M 33.33M -15.52M 14.08M
Cash on hand 307.46M 373.66M 340.32M 355.84M
Cost of revenue 489.92M 581.2M 448.59M 453.8M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 2.05B 1.91B 1.92B 2.27B
Net income -348.44M -212.33M 166.4M 24.59M
Diluted EPS -3.52 -2.16 1.68 0.25
Net profit margin -17.01% -11.12% 8.66% 1.08%
Operating income -290.71M -145.48M 10.66M 70.76M
Net change in cash 19.4M -76.06M -19.88M 64.96M
Cash on hand 373.66M 354.26M 430.32M 450.19M
Cost of revenue 1.95B 1.78B 1.73B 1.99B

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
3 Jun 20 Charles Davison Common Stock Payment of exercise Dispose F No 0 4,912 0 152,673
20 Mar 20 Kishore Sundararajan Common Stock Grant Aquire A No 0 11,345 0 11,345
16 Mar 20 Eric A Silva Common Stock Buy Aquire P No 2.3491 21,500 50.51K 70,587
16 Mar 20 Stephen P Barrett Common Stock Buy Aquire P No 2.335 100 233.5 85,429
16 Mar 20 Stephen P Barrett Common Stock Buy Aquire P No 2.336 9,900 23.13K 85,329
89.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 175 214 -18.2%
Opened positions 24 45 -46.7%
Closed positions 63 43 +46.5%
Increased positions 65 76 -14.5%
Reduced positions 62 74 -16.2%
13F shares
Current Prev Q Change
Total value 1.36B 7.02B -80.6%
Total shares 88.61M 97.04M -8.7%
Total puts 0 18K EXIT
Total calls 1.5K 179K -99.2%
Total put/call ratio 0.1
Largest owners
Shares Value Change
BLK BlackRock 16.5M $48.51M +1.6%
Vanguard 10.79M $31.73M +6.2%
FMR 9.58M $28.17M +27.5%
Dimensional Fund Advisors 7.29M $21.43M -8.1%
STT State Street 3.98M $11.71M +8.6%
Fisher Asset Management 2.63M $7.73M -5.6%
Van Eck Associates 2.59M $7.62M +57.1%
D. E. Shaw & Co. 2.57M $7.55M +95.8%
CS Credit Suisse 2.31M $6.8M +1.2%
Balyasny Asset Management 1.48M $4.35M +30.7%
Largest transactions
Shares Bought/sold Change
Barrow Hanley Mewhinney & Strauss 0 -2.38M EXIT
MN Manning & Napier 36.28K -2.14M -98.3%
FMR 9.58M +2.07M +27.5%
MS Morgan Stanley 297.76K -1.58M -84.2%
Eaton Vance Management 0 -1.47M EXIT
Norges Bank 0 -1.31M EXIT
D. E. Shaw & Co. 2.57M +1.26M +95.8%
Aqr Capital Management 341K -1.04M -75.3%
Assenagon Asset Management 1.01M +1.01M NEW
Granite Investment Partners 0 -963.34K EXIT

Financial report summary

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Risks
  • We derive most of our revenue from companies in the offshore oil and gas industry, a historically cyclical industry with levels of activity that are significantly affected by the levels and volatility of oil and gas prices.
  • Our operations could be adversely impacted by the effects of new regulations.
  • Our international operations involve additional risks not associated with domestic operations.
  • Our backlog is subject to unexpected adjustments and cancellations and is, therefore, an uncertain indicator of our future revenue and earnings.
  • A global financial crisis could impact our business and financial condition in ways that we currently cannot predict.
  • Our business strategy also includes development and commercialization of new technologies to support our growth. The development and commercialization of new technologies require capital investment and involve various risks and uncertainties.
  • The loss of the services of one or more of our key personnel, or our failure to attract, assimilate and retain trained personnel in the future, could disrupt our operations and result in loss of revenue.
  • We may not be able to compete successfully against current and future competitors.
  • We rely on intellectual property law and confidentiality agreements to protect our intellectual property. We also rely on intellectual property we license from third parties. Our failure to protect our intellectual property rights, or our inability to obtain or renew licenses to use intellectual property of third parties, could adversely affect our business.
  • Our information technology systems are subject to interruption and cybersecurity risks that could adversely impact our operations.
  • Our offshore oilfield operations involve a variety of operating hazards and risks that could cause losses.
  • Laws and governmental regulations may add to our costs or adversely affect our operations.
  • Environmental laws and regulations can increase our costs, and our failure to comply with those laws and regulations can expose us to significant liabilities.
  • Our internal controls may not be sufficient to achieve all stated goals and objectives.
  • The use of estimates could result in future adjustments to our assets, liabilities and results of operations.
  • We may issue preferred stock whose terms could adversely affect the voting power or value of our common stock.
  • Provisions in our corporate documents and Delaware law could delay or prevent a change in control of our company, even if that change would be beneficial to our shareholders.
Management Discussion
  • Certain statements we make in this quarterly report on Form 10-Q are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding our expectations about:
  • These forward-looking statements are subject to various risks, uncertainties and assumptions, including those we have referred to under the headings "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" in Part I of our annual report on Form 10-K for the year ended December 31, 2019. Although we believe that the expectations reflected in such forward-looking statements are reasonable, because of the inherent limitations in the forecasting process, as well as the relatively volatile nature of the industries in which we operate, we can give no assurance that those expectations will prove to have been correct. Accordingly, evaluation of our future prospects must be made with caution when relying on forward-looking information.
  • The ongoing coronavirus (COVID-19) outbreak, which the World Health Organization declared a pandemic and the U.S. Government declared a national emergency in March 2020, has reached more than 200 countries and has continued to be a rapidly evolving situation. The pandemic has resulted in widespread adverse impacts on the global economy and financial markets, and on our employees, customers, suppliers and other parties with whom we have business relations. We have experienced some resulting disruptions to our business operations, as the pandemic has continued to spread through most of our markets. For example, since mid-March, we have had to restrict access to our administrative offices around the world and quarantine personnel and assets as required by various governmental authorities and our own safety protocols.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Good
New words: absenteeism, advisor, aggressively, ahead, Aid, alternate, alternative, Area, assertion, attainment, belief, border, capacity, carryback, certainty, comply, compounded, context, counterparty, crude, cybersecurity, declared, destruction, difficult, Disease, disruption, disruptive, distancing, dropped, economy, effort, emergency, employee, enable, encouraged, enhance, evolving, exclusion, exclusive, exporting, face, facilitate, Facilitation, factor, family, fifteen, footprint, foregoing, foreseeable, forward, globe, goal, Gordon, harm, harmed, health, hourly, imbalance, inability, inclusive, infection, instituted, insufficient, interaction, Interbank, law, light, London, medical, methodology, minimize, missed, monitor, monitoring, moved, national, onboard, OPEC, outbreak, Overnight, pandemic, peer, Petroleum, physical, posed, precipitously, prevent, preventative, prevention, priority, profoundly, promote, prospective, prospectively, protect, put, quarantine, quarantined, quickly, rapidly, recommend, regulatory, release, released, relevant, reliable, reliance, Relief, replacement, respond, response, restore, resume, revising, safety, sanitary, school, Secured, Security, shallow, sharp, sick, situation, skilled, social, SOFR, spread, staffing, strain, subsidiary, temporary, travel, unable, undrawn, undue, unnecessary, unobservable, unrealized, unrepatriated, urged, water, widespread, withdrawn, workforce, worldwide, worsening, yielded
Removed: Aberdeen, acquiring, allocating, application, April, arrived, assessing, attempt, augment, capable, Coast, coastwise, Codification, crane, discernible, discounted, documented, drill, driven, dynamic, Ecosse, endorsement, entity, equipped, estimating, Evolution, excluding, existence, expand, feet, focused, grow, Guard, Headquartered, helideck, high, historically, improvement, improving, integrated, intention, intervention, June, legislation, meter, moonpool, obscured, observation, Ocean, optimize, organic, pattern, performing, portray, positioning, proven, reclassification, reflecting, repay, repayment, satellite, scope, Scotland, shifting, simplified, sizable, specification, stabilizing, stable, stranded, streaming, sustained, swap, system, Targeted, today, transmitting, video

Patents

APP
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A tool can be used remove one or more outer layers of a tubular such as a flexible pipeline to enable an inspection on the remaining layers of the flexible pipeline.
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Subsea Slip-on Pipeline Repair Connector with Graphite Packing
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A tubular connection system comprises a slip sized to fit about an outer diameter of a tubular, one or more pipeline connectors sized to fit within a tubular housing and comprising a graphite packer and a set of slip limiting rings disposed on either the first side or the second side of the graphite packer against the graphite packer's first C-shaped ring or the second C-shaped ring, and a connector activator operatively in communication with the tubular housing and operative to compress or decompress the first graphite packer.
GRANT
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Subsea automated ultrasonic testing
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A condition of a flexible pipeline may be monitored by scanning a section of the flexible pipeline with an ultrasonic scanner and using the ultrasonic scanner to produce a first ultrasonic signal that penetrates the section of the flexible pipeline and is used to create a set of condition data indicative of a condition present near or within an annulus of the flexible pipeline, the condition comprising pressure on or within the flexible pipeline.
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Trip Avoidance X-ray Inspection
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A trip avoidance X-ray inspection system, typically defining a specialized system that delivers pulsed X-rays, comprises one or more pulse X-ray cameras, each comprising a known set of effects on nucleonic instrumentation; a predetermined set of such shielded X-ray sources; a predetermined set of nucleonic instrumentation operatively in communication with one or more pulse X-ray cameras; and a digital radiography detector adapted to allow, process, or otherwise create an X-ray produced image when disposed proximate predetermined set of nucleonic instrumentation.
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