SBM Offshore (OTCMKTS:SBFFF) Trading 6.8% Higher – What’s Next?

SBM Offshore (OTCMKTS:SBFFF)’s stock price was up 6.8% on Thursday . The stock traded as high as $41.45 and last traded at $41.45. Approximately 100 shares were traded during trading, a decline of 78% from the average daily volume of 460 shares. The stock had previously closed at $38.80.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada started coverage on shares of SBM Offshore in a research report on Tuesday, July 28th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, SBM Offshore currently has an average rating of “Buy”.

SBM Offshore Trading Up 6.8%

The business’s 50 day moving average price is $38.38 and its 200-day moving average price is $38.22.

About SBM Offshore

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.