Shares of Oceaneering International Inc. (OII) are surging 5.11% in Wednesday's trading session, as investors show optimism ahead of the company's second-quarter earnings report. The offshore energy services and products company is scheduled to release its financial results after the market closes today.

According to the earnings calendar, analysts expect Oceaneering to report earnings of $0.40 per share for the second quarter. The anticipation of potentially strong results appears to be driving the stock's upward movement. Investors may be betting on a positive outcome, possibly due to improved conditions in the offshore energy sector or company-specific developments.

The significant pre-earnings rally suggests that market participants are positioning themselves favorably ahead of the announcement. However, it's important to note that the actual results may still impact the stock's performance in after-hours trading and in the sessions to follow. Investors will be closely watching for any guidance or commentary from management regarding the company's outlook, which could further influence the stock's trajectory.