SBM Offshore (OTCMKTS:SBFFF) Trading Up 0.1% – What’s Next?

Shares of SBM Offshore (OTCMKTS:SBFFF) traded up 0.1% during trading on Wednesday . The company traded as high as $34.50 and last traded at $34.50. 1,400 shares traded hands during mid-day trading, an increase of 133% from the average session volume of 600 shares. The stock had previously closed at $34.45.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley restated an “overweight” rating on shares of SBM Offshore in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

SBM Offshore Stock Up 0.1%

The stock’s 50 day moving average is $29.65 and its 200 day moving average is $27.94.

SBM Offshore Company Profile

SBM Offshore is a global developer and operator of floating production solutions for the offshore energy industry. The company specialises in the design, engineering, construction, installation and operation of floating production storage and offloading (FPSO) vessels, turret mooring systems and single-point mooring (SPM) buoys. These assets enable oil and gas producers to exploit deepwater and remote hydrocarbon reserves by converting production fluids into marketable oil and gas, while storing and offloading cargo to shuttle tankers.

Headquartered in Schiedam, the Netherlands, SBM Offshore traces its origins back to the 1960s when the first turret-moored production vessel concept was demonstrated.