Smooth seas for Oceaneering International (OII)

Filed under: International markets, Newsletters, Commodities, Oil, Stocks to Buy

"We see smooth seas ahead for deepsea driller Oceaneering International (NYSE: OII)," says Richard Moroney.

The editor of the blue chip advisory, Dow Theory Forecasts, explains, "Most of the world's untapped oil reserves lie under the ocean floor, and oil producers are spending an increasing portion of their capital budgets on deepwater drilling."

"While oil prices don't directly affect Oceaneering International's profits and cash flows, they do move the stock. Oil prices fell by two-thirds in the second half of 2008, pushing Oceaneering shares under $20 for the first time since July 2005.

Continue reading Smooth seas for Oceaneering International (OII)

Smooth seas for Oceaneering International (OII) originally appeared on BloggingStocks on Tue, 31 Mar 2009 12:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments