Long Position on OII @ $24.25 on 10/10/2023 (Momentum)

Oceaneering International, Inc. (OII) provides engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing, and entertainment industries worldwide. Stockwinners

The company's Subsea Robotics segment provides remotely operated vehicles (ROVs) for drill support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair. This segment also offers ROV tooling, and survey services, such as hydrographic survey and positioning services, as well as autonomous underwater vehicles for geoscience.

Its Manufactured Products segment provides distribution and connection systems, including production control umbilicals and field development hardware, pipeline connection, and repair systems to the energy industry; and autonomous mobile robots technology and entertainment systems to various industries.

The company's Offshore 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; diving services; project management and engineering; and drill pipe riser services and systems, and wellhead load relief solutions.

Its Integrity Management & Digital Solutions segment provides asset integrity management; software and analytical solutions for the bulk cargo maritime industry; and software, digital, and connectivity solutions for the energy 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 to U.S. government agencies and their prime contractors.

Shares are heading higher in an upward trading channel. The channel is supported by the stock's 50-day moving average. The company reports October 25th.

 

Entry Point: $24.25

Stop Loss: $23.00

Trading Range: $8.36 to $27.46

Target Price: $26.75

Position closed on 10/27/2023 at price of $23.00 with a -5.15% loss in 16 days.

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