Oceaneering Rises on Higher Guidance and Dividend: Dallas Mover

Oceaneering International Inc. (OII), the world’s largest provider of underwater robots to the oilfield, climbed to an all-time high after beating profit expectations, raising earnings guidance for the year and boosting its dividend.

Oceaneering rose 8 percent to $66.57 at the close in New York, the highest price in the company’s history.

Net income rose 45 percent to $74.8 million, or 69 cents a share, Houston-based Oceaneering said yesterday in a statement. That’s 8 cents better than the average of 12 analysts’ estimates compiled by Bloomberg. The company raised 2013 earnings guidance to a range of $3.10 to $3.30 per share, up from an earlier forecast of $3 to $3.25. It also announced yesterday it will boost its dividend to 22 cents a share from a previous quarterly payment of 18 cents.

The quarterly results and increases in dividend and guidance “should provide for solid outperformance on the day and follow-through post earnings,” Brian Uhlmer, an analyst at Global Hunter Securities LLC in Houston, wrote today in a note to investors he titled “triple whammy.”

Oceaneering, which has 14 buy and 10 hold ratings from analysts, rose 23 percent in the quarter.

To contact the reporter on this story: David Wethe in Houston at dwethe@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

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