eFinanceMarkets
8 years ago
Oceaneering wins 10-year ROV contract in Canada
Oceaneering (OII -4.9%) reaches an agreement with an unnamed "major international oil and gas company" to provide remotely operated vehicle services and equipment for projects located offshore of Newfoundland and Labrador in Canada.
OII says the scope of work under the agreement includes subsea construction, inspection, maintenance and repair services on existing and future infrastructure.
Despite the news, OII trades sharply lower along with other oil services stocks amid widespread losses among oil and gas equities: SLB -3.1%, HAL -4.6%, BHI -2.6%, NOV -4.8%, HP -3.7%, PTEN -4.7%, RES -4.5%, NBR -9%, MDR -1.4%, SPN -9.1%, FRAC -2.3%, FET -3.8%, PDS -5.3%, HLX -7.5%.
agribusiness72
8 years ago
Let's put it this way, you can time it if that's your strategy, but it is my opinion by this time next year share price will be in the 40's. OII cutting the fat, layoffs are still happening, but like I said earlier, I think we've hit bottom. Yes their wll be some dips but buying now is a good option. I'll let you do the math.
DeeDog
8 years ago
Thanks, looks like I should've bought in early Nov. I haven't even looked at stocks lately, does it look to you like it's about to dip again like it did a couple weeks ago? It seems to be getting back into overbought areas. I read where Trump may open up more drilling in the Gulf for 2017, meaning more work for OII, eh? Do you read it that way? Anyone? Dip, then continue bullish?