Sitting on a Cash Pile 12.0? Deepwater Oil Engineering Services Back in Demand

#cash #bullish #buy #Oil

$OII

Oceaneering International Inc. (NYSE:OII) broke out on 9 November 2020 at 5.65 and confirmed on 3 March at 12.39. Thus, garnering a HeffX-LTN Cash Pile buy rating with a 1 yr target price of 28.27.

Al of our Key technical indicators have turned Very Bullish in here. The Key support is Strong at 12.11 and the overhead resistance is Nil. The 3 March candlestick Homing Pigeon patter indicates the selling is over.

Our overall technical analysis for OII is Bullish with a Very Bullish near-term bias.

OII is currently trading at 12.39 within its 52 wk trading range of 2.01 – 13.03.

The consensus target for the deep-water drilling engineering firm is at 13.05.

Oceaneering International, Inc. provides engineered services and products to the offshore oil and gas, defense, aerospace, and commercial theme park industries worldwide.

The company’s Subsea Robotics segment provides ROVs (remotely operated vehicles) to customers in the energy industry for drilling support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance and repair. As of 31 December 2020, this segment owned 250 work-class ROVs.

Its Manufactured Products segment provides production control umbilicals and connection systems; and program management, engineering design, fabrication/assembly, and installation to the commercial theme park industry, as well as mobile robotics solutions, including AGV technology to various industries.

The company’s Projects Group segment offers subsea installation and intervention, including riserless light well intervention services and inspection, and maintenance and repair services; installation and workover control systems, and ROV workover control systems; project management and engineering; and seabed preparation, route clearance, and trenching services for submarine cables for the renewable energy markets.

Its Integrity Management & Digital Solutions segment provides asset integrity management, corrosion management, and inspection and non-destructive testing services to customers in the Oil & Gas, power generation, and petrochemical industries; software, digital, and connectivity solution for the energy industry; and software and analytical solutions for the bulk cargo maritime industry.

The company’s Aerospace and Defense Technologies segment offers government services and products, including engineering and related manufacturing in defense and space exploration activities principally to US government agencies and their prime contractors.

The company was founded in Y 1964 and is HQ’d in Houston, Texas.

Have a healthy day, Keep the Faith!

#Bullish#buy#cash#engineering#OII#oil#resistance#support