Oceaneering International Inc (NYSE:OII) continues to move higher this morning after an analyst at BofA Securities upgraded the stock to Buy from Neutral and set a price target of $15.
Last week, the company reported earnings of $0.03 a share for the first quarter, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of ($0.07)
revenues during the recent quarter fell 18.5% year over year to $437.55 million, higher than the $429.05 million S&P Capital IQ Consensus.
At the time of writing, OII stock is up by 17.67% at $13.85. The stock has surged about 40% over the past two weeks. The stock is now just 10% away from its 52-week high of $15.40.
Moreover, the stock is up over 315% from its 52-week low of $3.31.
Finance and Entertainment Reporter
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