New York, Feb 24, 2026, 07:50 EST — Premarket
- Oceaneering shares moved up roughly 1.8% ahead of the bell in premarket trading.
- After Barclays upped its target, shares surged almost 7% on Monday. This move comes on the heels of that jump.
- All eyes are now on the next round of management meetings, with particular attention on what the company’s 2026 cash position might signal.
Shares of Oceaneering International, Inc. climbed 1.83% to $37.90 ahead of Tuesday’s open, adding to the previous session’s gains. (Public)
Offshore services and robotics player finished Monday at $37.22, gaining 6.98% for the session after touching $37.80 at its peak. Shares wrapped up last week at $34.79. (Investing)
Barclays bumped its price target on Oceaneering to $32 from $23, sticking with the “Equal-Weight” rating, data from Yahoo Finance shows. (Yahoo Finance)
Oceaneering last week projected its 2026 EBITDA would land somewhere between $390 million and $440 million, with free cash flow seen at $100 million to $120 million. CEO Rod Larson, speaking to analysts, said the company wrapped up 2025 with a “cash balance increasing to $689 million.” He also pointed to a quieter start for 2026, setting first-quarter EBITDA expectations at $80 million to $90 million. (Q4Cdn)
But the setup remains messy. Fourth-quarter profit got a significant lift from a one-off tax benefit, and management flagged a cash outflow tied to working capital for the first quarter—a stretch they called seasonally soft.
Energy stocks have caught a tailwind from the broader market backdrop. Oil prices held close to their highest levels since seven months back, with Brent quoted at about $71.49 per barrel and U.S. crude sitting at $66.42, according to Reuters. Traders are keeping a close eye on mounting U.S.-Iran tensions ahead of Thursday’s talks. (Reuters)
Oceaneering lives in the offshore supply chain, handling subsea robotics, tools, and project contracts — all of it at the mercy of crude prices and shifting offshore budgets, not to mention the tempo of new awards. In the broader oilfield services and offshore space, think Baker Hughes, Halliburton, TechnipFMC as the neighbors.
The company has a date circled on its calendar: Oceaneering’s CFO Michael Sumruld and COO Benjamin Laura are set to connect with institutional investors at the THRIVE Energy Conference in Houston on Feb. 26. They’ll head next to Miami for investor meetings on March 3, and then Las Vegas on March 17. (Business Wire)
Tuesday brings a test for traders, with attention fixed on whether Monday’s surge can stick at the open—and if shares manage to hold above levels now comfortably north of Barclays’ new target.
