Barclays upgraded shares of SBM Offshore (OTCMKTS:SBFFY – Free Report) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.
SBM Offshore Price Performance
OTCMKTS:SBFFY opened at $34.67 on Monday. SBM Offshore has a one year low of $17.50 and a one year high of $34.67. The company’s 50-day simple moving average is $29.35 and its 200 day simple moving average is $27.20.
About SBM Offshore
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.
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