SBM Offshore (OTCMKTS:SBFFF) Stock Jumps 0.5% – Still a Buy?

SBM Offshore (OTCMKTS:SBFFF) shares traded up 0.5% during trading on Thursday. The stock traded as high as $39.00 and last traded at $39.00. Approximately 1,084 shares were traded during mid-day trading, an increase of 136% from the average session volume of 460 shares. The stock had previously closed at $38.80.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada initiated coverage on SBM Offshore in a research report on Tuesday, July 28th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

SBM Offshore Trading Up 0.5%

The stock has a fifty day moving average of $40.66 and a 200-day moving average of $37.98.

About SBM Offshore

SBM Offshore N.V. is a Netherlands-based provider of floating offshore energy infrastructure and services. The company specializes in the design, engineering, construction, installation, and operation of floating production systems used to develop offshore oil and gas fields.

Its principal products include floating production, storage and offloading vessels (FPSOs), which process hydrocarbons produced from subsea wells, store the output, and transfer it to shuttle tankers. SBM Offshore also provides related offshore engineering, project management, operations, maintenance, and marine services, and develops other floating solutions for offshore energy applications.

The company traces its origins to 1969 and has delivered and operated offshore production systems for clients in multiple regions, including offshore South America, West Africa, and other major offshore energy markets.