SBM Offshore (OTCMKTS:SBFFY) Cut to Hold at Barclays

Barclays lowered shares of SBM Offshore (OTCMKTS:SBFFY) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

SBM Offshore Price Performance

SBFFY stock opened at $40.75 on Monday. SBM Offshore has a 12 month low of $19.47 and a 12 month high of $43.80. The firm has a 50 day moving average of $38.78 and a two-hundred day moving average of $32.55.

SBM Offshore Company Profile

SBM Offshore is a Netherlands‐based provider of floating production, storage and offloading (FPSO) vessels and related services to the offshore oil and gas industry. Founded in 1965 as part of Royal IHC and listed as an independent entity in 2005, the company has established itself as a specialist in the design, engineering, construction and leasing of floating production systems. Headquartered in Schiedam, the firm leverages decades of experience in turret mooring technology and deepwater installations to serve oil and gas operators worldwide.

The company’s core offerings include turnkey FPSO solutions, which encompass front‐end engineering design, detailed engineering, procurement, construction, installation and commissioning.