Critical Analysis: Oceaneering International (NYSE:OII) & Exterran (EXTN)

Exterran (NYSE: EXTN) and Oceaneering International (NYSE:OII) are both small-cap energy companies, but which is the superior investment? We will contrast the two businesses based on the strength of their institutional ownership, analyst recommendations, earnings, valuation, risk, profitability and dividends.

Insider and Institutional Ownership

90.7% of Exterran shares are held by institutional investors. Comparatively, 99.4% of Oceaneering International shares are held by institutional investors. 2.2% of Exterran shares are held by company insiders. Comparatively, 0.9% of Oceaneering International shares are held by company insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a company is poised for long-term growth.

Earnings and Valuation

This table compares Exterran and Oceaneering International’s top-line revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
Exterran $1.22 billion 0.84 $33.88 million ($0.32) -88.91
Oceaneering International $1.92 billion 0.98 $166.39 million $3.54 5.43

Oceaneering International has higher revenue and earnings than Exterran. Exterran is trading at a lower price-to-earnings ratio than Oceaneering International, indicating that it is currently the more affordable of the two stocks.


Oceaneering International pays an annual dividend of $0.30 per share and has a dividend yield of 1.6%. Exterran does not pay a dividend. Oceaneering International pays out 8.5% of its earnings in the form of a dividend.

Analyst Ratings

This is a breakdown of recent ratings and target prices for Exterran and Oceaneering International, as provided by

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Exterran 0 1 0 0 2.00
Oceaneering International 4 14 3 0 1.95

Exterran presently has a consensus price target of $28.00, indicating a potential downside of 1.58%. Oceaneering International has a consensus price target of $22.63, indicating a potential upside of 17.76%. Given Oceaneering International’s higher probable upside, analysts plainly believe Oceaneering International is more favorable than Exterran.


This table compares Exterran and Oceaneering International’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Exterran 2.65% 0.26% 0.10%
Oceaneering International 8.66% -0.49% -0.24%


Oceaneering International beats Exterran on 10 of the 15 factors compared between the two stocks.

About Exterran

Exterran Corporation provides compression, production and processing products and services that support the production and transportation of oil and natural gas around the world. The Company operates through three segments: contract operations, aftermarket services, and oil and gas product sales. The contract operations segment provides natural gas compression services, production and processing equipment services, and maintenance services to meet specific customer requirements on assets owned by it. The aftermarket services segment provides a range of services to support the surface production, compression and processing needs of customers, from parts sales and normal maintenance services to full operation of a customer’s owned assets. The oil and gas product sales segment provides design, engineering, manufacturing, installation and sale of natural gas compression units, and accessories and equipment used in the production, treating and processing of crude oil and natural gas.

About Oceaneering International

Oceaneering International, Inc. is an oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. The Company’s business segments are contained within two businesses: services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies). Its four business segments within the Oilfield business are Remotely Operated Vehicles (ROVs), Subsea Products, Subsea Projects and Asset Integrity. The services and products it provides to the oil and gas industry include remotely operated vehicles, specialty subsea hardware, engineering and project management, subsea intervention services, including manned diving, survey and positioning services and asset integrity and nondestructive testing services. The Company serves the defense, aerospace and commercial theme park industries.

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